Jupiter Asset Management Ltd. Purchases 15,217 Shares of Globant S.A. (NYSE:GLOB)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Globant S.A. by 21.9% in Q1, now owning 84,700 shares worth approximately $9.97 million.
• Manning & Napier Advisors LLC significantly boosted its position in Globant by 86.3%, holding a total of 907,659 shares valued at $106.85 million.
• Globant's quarterly earnings report showed earnings per share (EPS) of $1.50, falling short of analysts' expectations, with revenue reaching $611.09 million for the quarter.

Jupiter Asset Management Ltd. grew its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,700 shares of the information technology services provider's stock after buying an additional 15,217 shares during the period. Jupiter Asset Management Ltd. owned 0.19% of Globant worth $9,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its position in shares of Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after buying an additional 155 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Globant during the first quarter valued at approximately $39,000. Farther Finance Advisors LLC raised its position in shares of Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after buying an additional 252 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 89 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Globant by 23.6% in the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

GLOB has been the subject of a number of recent research reports. Needham & Company LLC cut their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 16th. Guggenheim reissued a "buy" rating and issued a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and cut their target price for the company from $154.00 to $116.00 in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.69.

Globant Trading Down 0.8%

Shares of GLOB traded down $0.68 during trading hours on Wednesday, reaching $78.95. 237,099 shares of the company traded hands, compared to its average volume of 1,057,934. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 3.37 and a beta of 1.16. Globant S.A. has a 12-month low of $78.18 and a 12-month high of $238.32. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The stock's fifty day moving average price is $91.17 and its 200 day moving average price is $126.77.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The company had revenue of $611.09 million for the quarter, compared to analysts' expectations of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The firm'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 firm posted $1.53 earnings per share. Sell-side analysts forecast 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.