BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 76,000 Shares of Globant S.A. (NYSE:GLOB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 163.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,500 shares of the information technology services provider's stock after buying an additional 76,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.28% of Globant worth $26,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Globant in the fourth quarter valued at approximately $16,737,000. Cullen Frost Bankers Inc. grew its position in shares of Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock valued at $11,350,000 after purchasing an additional 2,505 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $551,506,000 after purchasing an additional 203,472 shares during the last quarter. NS Partners Ltd acquired a new position in shares of Globant in the fourth quarter valued at approximately $18,933,000. Finally, Segall Bryant & Hamill LLC grew its position in shares of Globant by 364.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider's stock valued at $25,315,000 after purchasing an additional 92,661 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Susquehanna decreased their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank decreased their target price on Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, UBS Group decreased their target price on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $179.19.

Globant Stock Down 4.2%

Shares of GLOB stock traded down $4.47 during trading hours on Friday, reaching $100.90. The company's stock had a trading volume of 850,536 shares, compared to its average volume of 685,626. The firm's 50 day simple moving average is $115.76 and its 200-day simple moving average is $173.40. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.38 and a beta of 1.37. Globant S.A. has a fifty-two week low of $88.03 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results 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 business had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 EPS. Sell-side analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

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.