Border to Coast Pensions Partnership Ltd Increases Stock Holdings in Globant S.A. (NYSE:GLOB)

Border to Coast Pensions Partnership Ltd boosted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,994 shares of the information technology services provider's stock after buying an additional 47,455 shares during the quarter. Border to Coast Pensions Partnership Ltd owned approximately 0.31% of Globant worth $16,127,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. GW&K Investment Management LLC increased its stake in shares of Globant by 0.4% in the fourth quarter. GW&K Investment Management LLC now owns 371,595 shares of the information technology services provider's stock valued at $79,678,000 after buying an additional 1,645 shares in the last quarter. LGT Group Foundation acquired a new stake in Globant in the 4th quarter valued at about $1,583,000. Victory Capital Management Inc. increased its position in Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after acquiring an additional 96,257 shares in the last quarter. Assetmark Inc. lifted its position in shares of Globant by 108,316.7% during the fourth quarter. Assetmark Inc. now owns 6,505 shares of the information technology services provider's stock worth $1,395,000 after purchasing an additional 6,499 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Globant by 26.3% during the fourth quarter. M&T Bank Corp now owns 2,073 shares of the information technology services provider's stock valued at $445,000 after purchasing an additional 432 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GLOB shares. Canaccord Genuity Group reissued a "hold" rating and issued a $97.00 target price (down from $165.00) on shares of Globant in a research note on Thursday. Guggenheim reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Needham & Company LLC decreased their price objective on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, The Goldman Sachs Group downgraded Globant from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $225.00 to $120.00 in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and an average target price of $174.94.

Globant Stock Performance

Shares of NYSE GLOB traded down $0.27 during mid-day trading on Monday, hitting $90.86. The stock had a trading volume of 748,426 shares, compared to its average volume of 724,497. The company has a 50 day moving average of $106.49 and a two-hundred day moving average of $150.41. Globant S.A. has a twelve month low of $86.02 and a twelve month high of $238.32. 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 $4.00 billion, a PE ratio of 26.88, a PEG ratio of 1.76 and a beta of 1.24.

Globant (NYSE:GLOB - Get Free Report) last released 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). The firm had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. Research analysts predict 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.