Globant S.A. (NYSE:GLOB) Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC grew its position in Globant S.A. (NYSE:GLOB - Free Report) by 86.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,659 shares of the information technology services provider's stock after purchasing an additional 420,382 shares during the period. Globant makes up approximately 1.3% of Manning & Napier Advisors LLC's holdings, making the stock its 24th largest holding. Manning & Napier Advisors LLC owned approximately 2.06% of Globant worth $106,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Avior Wealth Management LLC lifted its stake in shares of Globant by 12,437.5% during the first quarter. Avior Wealth Management LLC now owns 3,009 shares of the information technology services provider's stock worth $354,000 after purchasing an additional 2,985 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 116 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of Globant by 14.4% during the first quarter. Johnson Investment Counsel Inc. now owns 15,790 shares of the information technology services provider's stock worth $1,859,000 after purchasing an additional 1,988 shares in the last quarter. Insigneo Advisory Services LLC acquired a new position in shares of Globant during the first quarter worth about $265,000. Finally, Chicago Capital LLC lifted its stake in shares of Globant by 30.6% during the first quarter. Chicago Capital LLC now owns 5,793 shares of the information technology services provider's stock worth $682,000 after purchasing an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Performance

Shares of NYSE:GLOB traded down $2.21 during trading on Wednesday, hitting $88.90. 973,021 shares of the company traded hands, compared to its average volume of 718,613. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.76 and a beta of 1.24. The business's fifty day moving average is $107.41 and its 200-day moving average is $153.66. Globant S.A. has a one year low of $86.02 and a one year high of $238.32. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). The company had revenue of $611.09 million for the quarter, compared to the consensus estimate 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 last year, the company posted $1.53 earnings per share. As a group, equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of recent research reports. Needham & Company LLC reduced their price objective on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. The Goldman Sachs Group lowered Globant from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $225.00 to $120.00 in a research report on Friday, May 16th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a research 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 research report on Wednesday, February 26th. Finally, Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Globant has an average rating of "Moderate Buy" and an average 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.