Artemis Investment Management LLP Acquires 18,124 Shares of Globant S.A. (NYSE:GLOB)

Artemis Investment Management LLP grew its position in Globant S.A. (NYSE:GLOB - Free Report) by 69.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,058 shares of the information technology services provider's stock after purchasing an additional 18,124 shares during the period. Artemis Investment Management LLP owned about 0.10% of Globant worth $5,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Promus Capital LLC purchased a new stake in shares of Globant in the fourth quarter valued at about $64,000. Bessemer Group Inc. purchased a new stake in shares of Globant in the first quarter valued at about $39,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Globant in the fourth quarter valued at about $81,000. Farther Finance Advisors LLC grew its position in Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after buying an additional 252 shares during the period. Finally, Huntington National Bank grew its position in Globant by 51.5% during the fourth quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock valued at $99,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Trading Down 0.3%

Shares of NYSE GLOB traded down $0.31 during mid-day trading on Friday, hitting $91.21. The stock had a trading volume of 1,747,639 shares, compared to its average volume of 724,399. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. Globant S.A. has a 1 year low of $86.02 and a 1 year high of $238.32. The business has a 50 day moving average price of $106.49 and a two-hundred day moving average price of $150.89. The firm has a market cap of $4.02 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The business's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 EPS. On average, equities analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on GLOB shares. Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. The Goldman Sachs Group lowered shares of Globant from a "buy" rating to a "neutral" rating and cut their price objective for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Canaccord Genuity Group restated a "hold" rating and issued a $97.00 price objective (down from $165.00) on shares of Globant in a research report on Thursday. Scotiabank cut their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Finally, Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.94.

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.