Principal Financial Group Inc. Boosts Holdings in Globant S.A. (NYSE:GLOB)

Principal Financial Group Inc. boosted its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,798 shares of the information technology services provider's stock after acquiring an additional 8,599 shares during the period. Principal Financial Group Inc. owned 0.31% of Globant worth $15,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Physician Wealth Advisors Inc. raised its stake in Globant by 140.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 155 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Globant in the 1st quarter valued at $39,000. Farther Finance Advisors LLC boosted its holdings in shares of Globant by 186.7% in the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 252 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Globant by 23.6% in the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 116 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Globant in the 4th quarter valued at $81,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on GLOB shares. Susquehanna dropped their price objective 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. The Goldman Sachs Group cut Globant from a "buy" rating to a "neutral" rating and reduced their price target for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Canaccord Genuity Group reiterated a "hold" rating and set a $97.00 price target (down from $165.00) on shares of Globant in a research report on Thursday, June 26th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Mizuho set a $153.00 price target on Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Globant Price Performance

Shares of NYSE GLOB opened at $85.29 on Friday. The firm has a market cap of $3.76 billion, a PE ratio of 25.23, a PEG ratio of 2.69 and a beta of 1.20. The firm has a fifty day moving average of $101.65 and a 200 day moving average of $142.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. Globant S.A. has a one year low of $85.00 and a one year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results 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 during 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 business's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 EPS. As a group, research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant 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.

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