Globant S.A. (NYSE:GLOB) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,934 shares of the information technology services provider’s stock after buying an additional 2,505 shares during the period. Cullen Frost Bankers Inc.’s holdings in Globant were worth $11,350,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its position in shares of Globant by 10.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,146 shares of the information technology services provider’s stock worth $1,747,000 after acquiring an additional 758 shares during the period. M&T Bank Corp increased its holdings in Globant by 26.3% during the 4th quarter. M&T Bank Corp now owns 2,073 shares of the information technology services provider’s stock worth $445,000 after purchasing an additional 432 shares during the period. Assetmark Inc. increased its holdings in Globant by 108,316.7% during the 4th quarter. Assetmark Inc. now owns 6,505 shares of the information technology services provider’s stock worth $1,395,000 after purchasing an additional 6,499 shares during the period. Victory Capital Management Inc. raised its position in Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after purchasing an additional 96,257 shares in the last quarter. Finally, LGT Group Foundation purchased a new position in shares of Globant in the 4th quarter valued at about $1,583,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of NYSE:GLOB opened at $140.78 on Friday. Globant S.A. has a one year low of $140.14 and a one year high of $238.32. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.38 and a beta of 1.39. The company has a 50-day simple moving average of $201.16 and a 200-day simple moving average of $208.07.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. As a group, research analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. TD Cowen raised their price objective on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Scotiabank cut their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus target price of $221.39.

About Globant

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.