GW&K Investment Management LLC Has $42.84 Million Holdings in Globant S.A. (NYSE:GLOB)

GW&K Investment Management LLC lessened its position in Globant S.A. (NYSE:GLOB - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,951 shares of the information technology services provider's stock after selling 7,644 shares during the period. GW&K Investment Management LLC owned 0.83% of Globant worth $42,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Globant by 6.8% during the first quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider's stock valued at $15,868,000 after acquiring an additional 8,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Globant by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider's stock valued at $2,648,000 after acquiring an additional 2,967 shares during the period. Stephens Investment Management Group LLC raised its position in Globant by 1.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 291,410 shares of the information technology services provider's stock valued at $34,305,000 after purchasing an additional 3,943 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Globant in the 1st quarter worth approximately $346,000. Finally, Bank of America Corp DE grew its stake in shares of Globant by 7.5% in the 4th quarter. Bank of America Corp DE now owns 440,039 shares of the information technology services provider's stock worth $94,353,000 after buying an additional 30,785 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Trading Up 1.4%

Globant stock traded up $1.15 during midday trading on Monday, reaching $85.49. The stock had a trading volume of 1,176,592 shares, compared to its average volume of 749,028. Globant S.A. has a twelve month low of $82.39 and a twelve month high of $238.32. The stock has a market capitalization of $3.76 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.98 and a beta of 1.20. 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 stock's 50-day simple moving average is $97.66 and its 200 day simple moving average is $136.77.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). The firm had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. Globant's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 earnings per share. Analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GLOB. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday. They issued a "hold" rating and a $87.00 price objective for the company. Guggenheim restated a "buy" rating and set a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and dropped their target price for the company from $225.00 to $120.00 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 for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.69.

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.