Reliant Investment Management LLC Acquires Shares of 22,931 Globant S.A. (NYSE:GLOB)

Reliant Investment Management LLC acquired a new stake in Globant S.A. (NYSE:GLOB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,931 shares of the information technology services provider’s stock, valued at approximately $4,917,000. Globant makes up approximately 2.2% of Reliant Investment Management LLC’s holdings, making the stock its 25th largest position. Reliant Investment Management LLC owned about 0.05% of Globant at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its position in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares during the period. JPMorgan Chase & Co. boosted its position in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after acquiring an additional 153,385 shares during the last quarter. Victory Capital Management Inc. boosted its position in Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after acquiring an additional 1,431,112 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after acquiring an additional 161,512 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Globant by 28.4% during the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after acquiring an additional 75,192 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

GLOB has been the topic of a number of recent research reports. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. TD Cowen boosted their price target on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank boosted their price target on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 target price on shares of Globant in a research note on Monday, November 18th. Finally, Piper Sandler reduced their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.44.

Globant Stock Down 1.6 %

Shares of GLOB opened at $213.48 on Tuesday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm’s 50 day moving average price is $220.21 and its 200 day moving average price is $207.10. The company has a market cap of $9.20 billion, a P/E ratio of 55.74, a PEG ratio of 2.33 and a beta of 1.38.

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.