Teza Capital Management LLC Makes New Investment in Globant S.A. (NYSE:GLOB)

Teza Capital Management LLC purchased a new position in Globant S.A. (NYSE:GLOB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 40,341 shares of the information technology services provider's stock, valued at approximately $8,650,000. Globant makes up 1.3% of Teza Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Teza Capital Management LLC owned approximately 0.09% of Globant as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLOB. Congress Wealth Management LLC DE lifted its holdings in shares of Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after purchasing an additional 76 shares in the last quarter. Treasurer of the State of North Carolina raised its position in 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 period. PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 118 shares in the last quarter. Commerce Bank boosted its position in Globant by 8.8% during 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 period. Finally, Benjamin Edwards Inc. boosted its position in Globant by 4.8% during the 4th quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock worth $712,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Analysts Set New Price Targets

GLOB has been the subject of a number of research analyst reports. 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. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a research report on Monday. UBS Group lowered their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC dropped their price target on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $179.19.

Globant Trading Down 4.6%

NYSE GLOB traded down $4.87 during trading on Friday, hitting $100.50. 432,294 shares of the company traded hands, compared to its average volume of 681,809. Globant S.A. has a 12 month low of $88.03 and a 12 month high of $238.32. The business has a fifty day simple moving average of $116.45 and a 200 day simple moving average of $174.48. The company has a market capitalization of $4.42 billion, a P/E ratio of 27.01, a PEG ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same period in the previous year, the business posted $1.53 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. Equities research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant 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.