Impax Asset Management Group plc Acquires 1,711 Shares of Globant S.A. (NYSE:GLOB)

Impax Asset Management Group plc lifted its stake in Globant S.A. (NYSE:GLOB) by 26.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,269 shares of the information technology services provider’s stock after purchasing an additional 1,711 shares during the period. Impax Asset Management Group plc’s holdings in Globant were worth $1,638,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GLOB. Quarry LP grew its stake in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares in the last quarter. Ridgewood Investments LLC bought a new position in Globant in the second quarter worth approximately $31,000. BOKF NA increased its holdings in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the period. ORG Partners LLC raised its position in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares in the last quarter. Finally, American National Bank & Trust grew its position in shares of Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Up 0.4 %

NYSE GLOB opened at $212.83 on Wednesday. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a fifty day simple moving average of $204.36 and a two-hundred day simple moving average of $188.53. The stock has a market cap of $9.17 billion, a P/E ratio of 55.57, a P/E/G ratio of 2.58 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. As a group, sell-side analysts forecast that Globant S.A. will post 5.06 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on GLOB. TD Cowen lifted their price objective on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. Canaccord Genuity Group increased their price objective on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Finally, StockNews.com cut Globant from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and an average price target of $226.21.

Globant Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.