Dimensional Fund Advisors LP Increases Holdings in Globant S.A. (NYSE:GLOB)

Dimensional Fund Advisors LP raised its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 539,922 shares of the information technology services provider's stock after buying an additional 32,534 shares during the quarter. Dimensional Fund Advisors LP owned about 1.25% of Globant worth $115,778,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GLOB. Franklin Resources Inc. grew its position in Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after purchasing an additional 71 shares during the last quarter. Congress Wealth Management LLC DE lifted its stake in shares of Globant by 2.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock worth $575,000 after buying an additional 76 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Globant by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock valued at $3,965,000 after buying an additional 110 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 valued at $1,032,000 after acquiring an additional 118 shares during the period. Finally, Commerce Bank raised its stake in Globant by 8.8% in the 4th quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GLOB shares. Piper Sandler cut their price objective on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group reduced their price target on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. Susquehanna decreased their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Finally, StockNews.com downgraded shares of Globant from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and a consensus price target of $204.00.

Globant Stock Performance

Shares of NYSE:GLOB traded down $1.61 during midday trading on Wednesday, reaching $117.44. 665,527 shares of the company's stock traded hands, compared to its average volume of 606,959. The company has a fifty day simple moving average of $124.25 and a two-hundred day simple moving average of $185.57. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32. The company has a market cap of $5.17 billion, a P/E ratio of 31.57, a PEG ratio of 2.38 and a beta of 1.50.

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 company had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. As a group, research analysts forecast that Globant S.A. will post 5.73 EPS 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.