494,082 Shares in Globant S.A. (NYSE:GLOB) Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a significant new position in Globant S.A., purchasing 494,082 shares valued at approximately $58.16 million, and now holds about 1.12% of the company.
• Globant recently reported earnings of $1.53 per share, exceeding analyst expectations, along with a revenue of $614.18 million for the quarter, marking a year-over-year increase of 4.5%.
• Investment analysts have mixed ratings on Globant, with a current average rating of "Moderate Buy" and a target price of $165.69, reflecting varied outlooks on the company's performance.

Nuveen LLC purchased a new position in shares of Globant S.A. (NYSE:GLOB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 494,082 shares of the information technology services provider's stock, valued at approximately $58,163,000. Nuveen LLC owned about 1.12% of Globant as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Globant in the 1st quarter valued at approximately $1,241,000. Entropy Technologies LP purchased a new stake in Globant in the 1st quarter valued at approximately $1,862,000. Polen Capital Management LLC boosted its holdings in Globant by 22.0% in the 1st quarter. Polen Capital Management LLC now owns 774,418 shares of the information technology services provider's stock valued at $91,164,000 after purchasing an additional 139,894 shares in the last quarter. Invesco Ltd. boosted its holdings in Globant by 764.3% in the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock valued at $111,271,000 after purchasing an additional 835,859 shares in the last quarter. Finally, Cynosure Group LLC purchased a new stake in Globant in the 1st quarter valued at approximately $1,016,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Price Performance

GLOB stock opened at $78.00 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $3.43 billion, a P/E ratio of 23.08, a PEG ratio of 3.27 and a beta of 1.16. The stock's 50 day moving average price is $88.27 and its 200 day moving average price is $120.99. Globant S.A. has a 1 year low of $73.98 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.01. The business had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $1.51 EPS. On average, sell-side analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of analyst reports. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Susquehanna lowered their price objective on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Scotiabank raised Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a research note on Monday, July 21st. Needham & Company LLC decreased their price target on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Mizuho set a $153.00 price target on Globant and gave the stock an "outperform" rating in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $165.69.

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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