Globant S.A. (NYSE:GLOB) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can grew its position in Globant S.A. (NYSE:GLOB - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,974 shares of the information technology services provider's stock after purchasing an additional 3,332 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Globant worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GLOB. Quantinno Capital Management LP raised its position in shares of Globant by 14.0% during the third quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider's stock valued at $298,000 after buying an additional 185 shares during the last quarter. Barclays PLC lifted its stake in Globant by 132.9% in the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock worth $4,467,000 after purchasing an additional 12,862 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock valued at $326,000 after purchasing an additional 60 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Globant by 26.2% during the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider's stock valued at $656,000 after purchasing an additional 688 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the third quarter worth about $40,000. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GLOB shares. Piper Sandler cut their price target on Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. StockNews.com lowered Globant from a "hold" rating to a "sell" rating in a research report on Monday, April 14th. UBS Group decreased their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group dropped their target price on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.94.

Globant Price Performance

Globant stock traded down $0.90 during trading hours on Friday, reaching $105.69. The stock had a trading volume of 401,366 shares, compared to its average volume of 595,817. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.38 and a beta of 1.50. The business's 50 day moving average price is $139.24 and its 200-day moving average price is $190.00. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.