IFP Advisors Inc Buys 67 Shares of Globant S.A. (NYSE:GLOB)

IFP Advisors Inc raised its holdings in Globant S.A. (NYSE:GLOB) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 770 shares of the information technology services provider’s stock after buying an additional 67 shares during the period. IFP Advisors Inc’s holdings in Globant were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. lifted its position in shares of Globant by 460.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,610,111 shares of the information technology services provider’s stock valued at $55,309,000 after purchasing an additional 1,322,944 shares in the last quarter. BlackRock Inc. increased its holdings in Globant by 14.4% during the fourth quarter. BlackRock Inc. now owns 4,209,810 shares of the information technology services provider’s stock worth $916,096,000 after buying an additional 530,672 shares during the last quarter. Norges Bank purchased a new stake in Globant during the fourth quarter worth about $76,343,000. Thornburg Investment Management Inc. increased its holdings in Globant by 196.9% during the fourth quarter. Thornburg Investment Management Inc. now owns 261,260 shares of the information technology services provider’s stock worth $56,853,000 after buying an additional 173,275 shares during the last quarter. Finally, Riverbridge Partners LLC increased its holdings in Globant by 11.2% during the fourth quarter. Riverbridge Partners LLC now owns 1,589,829 shares of the information technology services provider’s stock worth $345,963,000 after buying an additional 160,270 shares during the last quarter. 89.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GLOB opened at $214.96 on Monday. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 170.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.44 and a current ratio of 3.44. Globant S.A. has a fifty-two week low of $117.39 and a fifty-two week high of $244.72. The firm has a 50 day moving average price of $219.36 and a 200-day moving average price of $208.44.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 13th. The information technology services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. Globant had a net margin of 6.40% and a return on equity of 10.92%. The firm had revenue of $270.20 million during the quarter, compared to analyst estimates of $259.64 million. During the same period in the previous year, the business posted $0.59 EPS. The business’s quarterly revenue was up 41.0% on a year-over-year basis. As a group, equities research analysts predict that Globant S.A. will post 1.76 earnings per share for the current year.

GLOB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Globant from $203.00 to $236.00 and gave the stock an “overweight” rating in a report on Friday, February 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Globant from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $243.00 in a research note on Friday. Citigroup upgraded shares of Globant from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $243.00 in a research note on Friday. Wedbush lifted their target price on shares of Globant from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Finally, TheStreet upgraded shares of Globant from a “c+” rating to a “b-” rating in a research note on Thursday, February 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $227.50.

About Globant

Globant SA operates as a technology services company worldwide. The company offers transformational programs, ROI and cost efficiency, new revenue streams, E-mission, sustainability today, up with climate, organizational design, leadership mindset and organizational upskilling, cultural strategy, talent journeys, change management, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, strategic architecture consulting, platforms evolution, and augmented composable services.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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