Globant S.A. (NYSE:GLOB) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its stake in shares of Globant S.A. (NYSE:GLOB) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,710 shares of the information technology services provider’s stock after acquiring an additional 299 shares during the quarter. New York Life Investment Management LLC’s holdings in Globant were worth $1,121,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after buying an additional 714,162 shares in the last quarter. Invesco Ltd. lifted its holdings in Globant by 155.2% in the 3rd quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock valued at $120,898,000 after acquiring an additional 371,628 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Globant by 36.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock valued at $167,797,000 after purchasing an additional 189,204 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Globant by 40.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 485,042 shares of the information technology services provider’s stock worth $95,966,000 after purchasing an additional 140,398 shares during the last quarter. Finally, State of Michigan Retirement System bought a new stake in shares of Globant in the 3rd quarter worth approximately $27,343,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

GLOB has been the subject of a number of recent research reports. UBS Group increased their price objective on Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. dropped their price target on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Guggenheim assumed coverage on shares of Globant in a research note on Tuesday, March 19th. They set a “buy” rating and a $250.00 price objective for the company. Scotiabank dropped their target price on shares of Globant from $260.00 to $230.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $230.00 price target on shares of Globant in a research report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.35.

Globant Stock Performance

GLOB opened at $193.91 on Wednesday. Globant S.A. has a twelve month low of $135.40 and a twelve month high of $251.50. The business has a 50 day moving average price of $198.64 and a 200 day moving average price of $211.93. The firm has a market cap of $8.36 billion, a P/E ratio of 53.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35.

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