DekaBank Deutsche Girozentrale Has $1.15 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

DekaBank Deutsche Girozentrale grew its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 321.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,900 shares of the information technology services provider's stock after purchasing an additional 7,550 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Globant were worth $1,154,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Globant during the fourth quarter worth about $16,737,000. PNC Financial Services Group Inc. boosted its holdings in Globant by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock valued at $1,032,000 after purchasing an additional 118 shares in the last quarter. Amundi boosted its holdings in Globant by 209.2% during the fourth quarter. Amundi now owns 2,718 shares of the information technology services provider's stock valued at $580,000 after purchasing an additional 1,839 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Globant by 13.3% during the fourth quarter. HighTower Advisors LLC now owns 6,483 shares of the information technology services provider's stock valued at $1,390,000 after purchasing an additional 759 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Globant by 3,513.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 831 shares of the information technology services provider's stock valued at $178,000 after purchasing an additional 808 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank decreased their price objective on Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Mizuho set a $153.00 target price on Globant and gave the stock an "outperform" rating in a report on Monday, May 19th. Canaccord Genuity Group reissued a "hold" rating and issued a $97.00 target price (down from $165.00) on shares of Globant in a report on Thursday, June 26th. Guggenheim reissued a "buy" rating and issued a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Finally, The Goldman Sachs Group downgraded Globant from a "buy" rating to a "neutral" rating and reduced their target price for the stock 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $174.94.

Globant Trading Down 1.5%

Shares of Globant stock traded down $1.22 on Tuesday, hitting $82.53. 791,470 shares of the company's stock traded hands, compared to its average volume of 741,636. The firm's 50-day moving average price is $100.97 and its two-hundred day moving average price is $140.43. The stock has a market capitalization of $3.63 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.20. Globant S.A. has a one year low of $82.44 and a one year high of $238.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The firm had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same quarter in the prior year, the company earned $1.53 EPS. Globant's quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts expect 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.