Baird Financial Group Inc. Buys 56,467 Shares of Globant S.A. (NYSE:GLOB)

Baird Financial Group Inc. boosted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,928 shares of the information technology services provider's stock after purchasing an additional 56,467 shares during the period. Baird Financial Group Inc. owned approximately 0.82% of Globant worth $76,104,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its holdings in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after buying an additional 71 shares during the last quarter. Congress Wealth Management LLC DE grew its position in shares of Globant by 2.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after acquiring an additional 76 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Globant by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock worth $3,965,000 after purchasing an additional 110 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Globant by 2.5% in 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 period. Finally, Commerce Bank lifted its position in Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock valued at $402,000 after purchasing an additional 151 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLOB. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of Globant in a research report on Wednesday, March 12th. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a report on Saturday. Scotiabank decreased their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Susquehanna dropped their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, UBS Group decreased their price target on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $204.00.

Globant Stock Performance

Shares of GLOB opened at $119.28 on Monday. The stock has a market capitalization of $5.25 billion, a PE ratio of 32.06, a P/E/G ratio of 2.38 and a beta of 1.37. The company's fifty day moving average is $122.08 and its 200 day moving average is $183.35. Globant S.A. has a fifty-two week low of $96.23 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. As a group, research analysts forecast 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.

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