Thornburg Investment Management Inc. Has $30.45 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Thornburg Investment Management Inc. reduced its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,017 shares of the information technology services provider's stock after selling 19,715 shares during the period. Thornburg Investment Management Inc. owned about 0.33% of Globant worth $30,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Globant in the fourth quarter worth $16,737,000. Cullen Frost Bankers Inc. grew its position in 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 worth $11,350,000 after acquiring an additional 2,505 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. NS Partners Ltd bought a new position in shares of Globant during the 4th quarter valued at $18,933,000. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Globant by 364.7% in the 4th 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. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Stock Up 2.5%

GLOB traded up $2.55 during trading on Thursday, reaching $105.30. 982,497 shares of the company's stock were exchanged, compared to its average volume of 681,530. The company has a market capitalization of $4.64 billion, a P/E ratio of 28.31, a PEG ratio of 2.38 and a beta of 1.37. The business has a 50 day moving average price of $117.06 and a 200 day moving average price of $175.22. 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 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 return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. During the same period in the previous year, the business posted $1.53 earnings per share. Globant's revenue was up 7.0% on a year-over-year basis. As a group, research analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on GLOB shares. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday. Redburn Atlantic raised shares of 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. Guggenheim decreased their price objective on shares of Globant from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, May 16th. Susquehanna dropped their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $179.19.

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.