Principal Financial Group Inc. raised its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,798 shares of the information technology services provider's stock after purchasing an additional 8,599 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of Globant worth $15,868,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Physician Wealth Advisors Inc. lifted its stake 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 period. Bessemer Group Inc. acquired a new position in Globant during the 1st quarter worth $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 buying an additional 252 shares during the period. Blue Trust Inc. lifted its position in 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 purchasing an additional 116 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Globant during the fourth quarter valued at about $81,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
Globant Stock Performance
GLOB traded down $1.22 during trading hours on Tuesday, hitting $82.53. The stock had a trading volume of 720,511 shares, compared to its average volume of 740,401. The stock has a market cap of $3.63 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.62 and a beta of 1.20. 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 company's fifty day simple moving average is $100.97 and its 200 day simple moving average is $140.43. Globant S.A. has a 1 year low of $82.44 and a 1 year high of $238.32.
Globant (NYSE:GLOB - Get Free Report) last announced its quarterly 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 business 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 company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. Equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.
Wall Street Analyst Weigh In
GLOB has been the subject of several recent research reports. Piper Sandler downgraded shares of Globant from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $97.00 target price (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Needham & Company LLC reduced their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Mizuho set a $153.00 price objective on shares of Globant and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Guggenheim reissued a "buy" rating and set a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.
View Our Latest Analysis on Globant
Globant Profile
(
Free Report)
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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