Brown Brothers Harriman & Co. Boosts Stock Holdings in Globant S.A. (NYSE:GLOB)

Brown Brothers Harriman & Co. lifted its holdings in Globant S.A. (NYSE:GLOB) by 42.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 291,377 shares of the information technology services provider’s stock after purchasing an additional 87,242 shares during the period. Brown Brothers Harriman & Co.’s holdings in Globant were worth $62,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLOB. M&T Bank Corp raised its stake in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after acquiring an additional 71 shares during the period. Congress Wealth Management LLC DE raised its position in shares of Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after acquiring an additional 76 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock worth $1,032,000 after purchasing an additional 118 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Globant by 3.3% during the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock valued at $756,000 after purchasing an additional 122 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GLOB shares. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. UBS Group lowered their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Jefferies Financial Group upped their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Scotiabank lowered their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $219.71.

Globant Stock Down 6.3 %

Shares of NYSE GLOB opened at $118.48 on Friday. Globant S.A. has a 52 week low of $117.61 and a 52 week high of $238.32. The business’s 50 day moving average price is $174.61 and its 200 day moving average price is $200.38. The firm has a market cap of $5.22 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last released 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). The business had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Globant Company 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.