Universal Beteiligungs und Servicegesellschaft mbH Takes $18.83 Million Position in Globant S.A. (NYSE:GLOB)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Globant S.A. (NYSE:GLOB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 87,811 shares of the information technology services provider's stock, valued at approximately $18,828,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.20% of Globant as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Centricity Wealth Management LLC purchased a new stake in shares of Globant during the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new stake in shares of Globant during the 4th quarter valued at $38,000. Van Berkom & Associates Inc. bought a new stake in shares of Globant during the 4th quarter valued at $45,000. Promus Capital LLC bought a new stake in shares of Globant during the 4th quarter valued at $64,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Globant during the 4th quarter valued at $81,000. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 3.5%

Shares of NYSE:GLOB traded down $3.47 during trading on Monday, reaching $94.62. 1,232,735 shares of the company's stock traded hands, compared to its average volume of 698,048. Globant S.A. has a fifty-two week low of $88.03 and a fifty-two week high of $238.32. The firm has a market cap of $4.17 billion, a PE ratio of 25.44, a P/E/G ratio of 2.38 and a beta of 1.37. The company has a 50-day simple moving average of $112.00 and a 200-day simple moving average of $167.54.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same quarter in the previous year, the firm posted $1.53 earnings per share. The company's quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

GLOB has been the subject of a number of recent research reports. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Guggenheim dropped their price objective on Globant from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Mizuho set a $153.00 price objective on Globant and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, UBS Group decreased their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.