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

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 4th quarter, according to the company in its most recent Form 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.

Other institutional investors and hedge funds have also modified their holdings of the company. GQG Partners LLC acquired a new position in Globant during the fourth quarter worth approximately $84,906,000. Canada Pension Plan Investment Board acquired a new position in Globant during the fourth quarter worth approximately $60,913,000. JPMorgan Chase & Co. increased its position in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Capital International Investors increased its position in Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after purchasing an additional 197,064 shares during the last quarter. Finally, abrdn plc increased its position in Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after purchasing an additional 126,333 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Price Performance

Shares of GLOB stock traded up $0.20 during trading hours on Friday, reaching $97.97. The stock had a trading volume of 1,235,218 shares, compared to its average volume of 695,032. Globant S.A. has a twelve month low of $88.03 and a twelve month high of $238.32. The firm has a 50-day simple moving average of $112.65 and a 200-day simple moving average of $169.19. The firm has a market capitalization of $4.31 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results 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). The company had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 EPS. On average, equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on GLOB shares. UBS Group dropped their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group dropped their price objective on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. Susquehanna dropped their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Needham & Company LLC dropped their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Globant has a consensus rating of "Moderate Buy" and a consensus target price 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.