Royce & Associates LP Invests $5.27 Million in Globant S.A. (NYSE:GLOB)

Key Points

• Royce & Associates LP has made a new investment in Globant S.A., purchasing 44,760 shares valued at approximately $5.27 million, bringing their ownership to 0.10% as of the latest quarter.
• Globant recently reported its quarterly earnings with an EPS of $1.50, missing estimates, while revenue increased 7.0% year-over-year to $611.09 million.
• Institutional investors hold a significant majority, with 91.60% ownership of Globant’s stock, indicating strong confidence in the company among large investors.

Royce & Associates LP bought a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,760 shares of the information technology services provider's stock, valued at approximately $5,269,000. Royce & Associates LP owned approximately 0.10% of Globant at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Physician Wealth Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 155 shares during the period. Bessemer Group Inc. purchased a new position in Globant during the first quarter worth $39,000. Pilgrim Partners Asia Pte Ltd bought a new position in Globant during the fourth quarter valued at $81,000. Farther Finance Advisors LLC raised its stake in shares of Globant by 186.7% in the first 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 period. Finally, Signaturefd LLC lifted its holdings in shares of Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Price Performance

GLOB opened at $92.80 on Friday. The firm has a market capitalization of $4.09 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The business's 50-day moving average is $93.65 and its two-hundred day moving average is $132.90. Globant S.A. has a 1 year low of $82.39 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data 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). Globant had a net margin of 6.16% and a return on equity of 11.08%. The business had revenue of $611.09 million for the quarter, compared to analysts' expectations of $622.18 million. During the same quarter in the prior year, the company posted $1.53 EPS. The business's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Needham & Company LLC reduced their target price on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Susquehanna cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price objective 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's stock. According to MarketBeat, Globant presently has an average rating of "Moderate Buy" and a consensus target price of $165.69.

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.

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