Teachers Retirement System of The State of Kentucky Takes $3.45 Million Position in Globant S.A. (NYSE:GLOB)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,300 shares of the information technology services provider's stock, valued at approximately $3,449,000. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Globant as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GLOB. Congress Wealth Management LLC DE boosted its position in Globant by 2.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock worth $575,000 after purchasing an additional 76 shares during the period. Signaturefd LLC raised its stake in shares of Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 89 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Globant by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock valued at $3,965,000 after acquiring an additional 110 shares during the period. Blue Trust Inc. raised its stake in 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 acquiring an additional 116 shares in the last quarter. Finally, Commerce Bank grew its position in Globant by 8.8% during the 4th quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after acquiring an additional 151 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Shares of NYSE GLOB opened at $89.06 on Wednesday. The firm has a market cap of $3.92 billion, a PE ratio of 26.35, a PEG ratio of 3.02 and a beta of 1.20. The firm has a fifty day moving average of $97.66 and a 200 day moving average of $136.77. Globant S.A. has a one year low of $82.39 and a one year high of $238.32. 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 (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data 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 firm posted $1.53 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Ratings Changes

GLOB has been the subject of a number of recent analyst reports. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price for the company in a report on Monday. Guggenheim reissued a "buy" rating and issued a $125.00 price objective on shares of Globant in a report on Tuesday, June 10th. The Goldman Sachs Group downgraded Globant from a "buy" rating to a "neutral" rating and reduced their target price for the company from $225.00 to $120.00 in a report on Friday, May 16th. Finally, Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $165.69.

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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