Globant S.A. (NYSE:GLOB) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 163.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,500 shares of the information technology services provider's stock after buying an additional 76,000 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.28% of Globant worth $26,266,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GQG Partners LLC purchased a new position in Globant during the 4th quarter worth approximately $84,906,000. Canada Pension Plan Investment Board purchased a new stake in shares of Globant in the 4th quarter valued at $60,913,000. JPMorgan Chase & Co. increased its stake in shares of Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares during the period. Capital International Investors raised its holdings in shares of Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after purchasing an additional 197,064 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after purchasing an additional 126,333 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Up 1.5%

Shares of GLOB stock traded up $1.54 during trading hours on Tuesday, hitting $102.16. 353,982 shares of the company's stock were exchanged, compared to its average volume of 684,347. Globant S.A. has a fifty-two week low of $88.03 and a fifty-two week high of $238.32. The firm has a market cap of $4.50 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.38 and a beta of 1.37. The firm has a 50 day moving average of $115.10 and a two-hundred day moving average of $172.06.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS 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 analysts' expectations of $622.18 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Globant's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS. On average, equities analysts forecast 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 several recent research reports. 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. Guggenheim decreased their price objective on Globant from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, May 16th. The Goldman Sachs Group downgraded Globant from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $225.00 to $120.00 in a research note on Friday, May 16th. Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and lifted their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $179.19.

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.