Manning & Napier Advisors LLC Purchases 420,382 Shares of Globant S.A. (NYSE:GLOB)

Manning & Napier Advisors LLC boosted its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 86.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 907,659 shares of the information technology services provider's stock after buying an additional 420,382 shares during the period. Globant comprises 1.3% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 24th largest holding. Manning & Napier Advisors LLC owned about 2.06% of Globant worth $106,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLOB. GQG Partners LLC acquired a new stake in Globant during the 4th quarter worth about $84,906,000. Canada Pension Plan Investment Board acquired a new stake in Globant during the 4th quarter worth about $60,913,000. JPMorgan Chase & Co. increased its holdings in shares of Globant by 8.6% in the 4th 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 period. Capital International Investors increased its holdings in shares of Globant by 13.1% in the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock valued at $364,723,000 after purchasing an additional 197,064 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Globant in the 4th quarter valued at about $26,629,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

GLOB has been the topic of a number of research reports. Guggenheim reiterated a "buy" rating and issued a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Mizuho set a $153.00 target price on Globant and gave the company an "outperform" rating in a report on Monday, May 19th. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group dropped their target price on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. 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, Globant presently has an average rating of "Moderate Buy" and a consensus target price of $179.19.

Globant Price Performance

Globant stock traded up $0.77 during mid-day trading on Monday, hitting $88.40. 960,794 shares of the company were exchanged, compared to its average volume of 717,197. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $108.15 and a 200 day moving average of $155.09. Globant S.A. has a 1-year low of $86.24 and a 1-year high of $238.32. The company has a market capitalization of $3.89 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24.

Globant (NYSE:GLOB - Get Free Report) last announced 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). Globant had a net margin of 6.16% and a return on equity of 11.08%. The business had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same quarter last year, the business posted $1.53 earnings per share. The business's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts expect 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.