Bamco Inc. NY Decreases Stock Position in Globant S.A. (NYSE:GLOB)

Bamco Inc. NY decreased its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 6.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 87,179 shares of the information technology services provider's stock after selling 6,281 shares during the period. Bamco Inc. NY owned approximately 0.20% of Globant worth $18,693,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GLOB. JPMorgan Chase & Co. boosted its stake in Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after purchasing an additional 203,472 shares in the last quarter. Capital International Investors lifted its stake in shares of Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after buying an additional 197,064 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Globant by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after buying an additional 96,257 shares during the last quarter. Jennison Associates LLC increased its position in shares of Globant by 0.6% in the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider's stock valued at $172,082,000 after acquiring an additional 4,970 shares during the period. Finally, Sei Investments Co. raised its stake in Globant by 3.5% in the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock worth $129,252,000 after acquiring an additional 20,365 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Canaccord Genuity Group dropped their price target on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research note on Monday, February 24th. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group raised their price target on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. Finally, StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Saturday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

Globant Trading Up 1.6 %

Shares of GLOB stock opened at $119.28 on Monday. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The business's 50 day moving average is $122.08 and its two-hundred day moving average is $183.35. The company has a market capitalization of $5.25 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.38 and a beta of 1.37.

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 analysts' consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, research analysts predict that Globant S.A. will post 5.73 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.

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