Handelsbanken Fonder AB Grows Stock Holdings in Globant S.A. (NYSE:GLOB)

Handelsbanken Fonder AB raised its position in shares of Globant S.A. (NYSE:GLOB) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the information technology services provider’s stock after purchasing an additional 100 shares during the period. Handelsbanken Fonder AB’s holdings in Globant were worth $1,904,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GLOB. JPMorgan Chase & Co. increased its holdings in shares of Globant by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock worth $319,485,000 after buying an additional 49,812 shares during the period. Schroder Investment Management Group increased its holdings in shares of Globant by 16.2% in the third quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider’s stock worth $145,317,000 after buying an additional 102,184 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Globant by 36.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock worth $167,797,000 after buying an additional 189,204 shares during the period. Invesco Ltd. increased its holdings in shares of Globant by 155.2% in the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock worth $120,898,000 after buying an additional 371,628 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Globant by 40.7% in the third quarter. Ameriprise Financial Inc. now owns 485,042 shares of the information technology services provider’s stock worth $95,966,000 after buying an additional 140,398 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Up 0.9 %

Globant stock opened at $180.80 on Friday. The company has a market capitalization of $7.79 billion, a P/E ratio of 49.81, a PEG ratio of 1.39 and a beta of 1.35. The stock’s 50 day moving average is $204.22 and its 200 day moving average is $211.98. Globant S.A. has a twelve month low of $135.40 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). The company had revenue of $580.71 million during the quarter, compared to analysts’ expectations of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, equities analysts expect that Globant S.A. will post 5.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on GLOB. JPMorgan Chase & Co. lifted their price objective on Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. KeyCorp boosted their price target on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Mizuho restated a “buy” rating and set a $279.00 price target (down previously from $283.00) on shares of Globant in a report on Tuesday, February 20th. Guggenheim began coverage on Globant in a report on Tuesday, March 19th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Piper Sandler boosted their price target on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.24.

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.