Victory Capital Management Inc. Buys 98,863 Shares of Globant S.A. (NYSE:GLOB)

Victory Capital Management Inc. raised its position in Globant S.A. (NYSE:GLOB - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,704,973 shares of the information technology services provider's stock after acquiring an additional 98,863 shares during the quarter. Victory Capital Management Inc. owned approximately 3.87% of Globant worth $200,709,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE raised its position in shares of Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after purchasing an additional 76 shares during the period. Signaturefd LLC raised its position 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 during the period. Treasurer of the State of North Carolina raised its position in shares of 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 purchasing an additional 110 shares during the period. Blue Trust Inc. raised its position in shares of Globant by 23.6% in the first 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 period. Finally, Commerce Bank increased its position in Globant by 8.8% during the fourth 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 period. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on GLOB. Susquehanna lowered their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Guggenheim reaffirmed a "buy" rating and set a $125.00 price target on shares of Globant in a research report on Tuesday, June 10th. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $154.00 to $116.00 in a report on Friday, May 16th. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Finally, Needham & Company LLC decreased their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Globant currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.25.

Globant Price Performance

Shares of GLOB traded down $0.89 during mid-day trading on Friday, reaching $84.28. The company had a trading volume of 1,008,549 shares, compared to its average volume of 746,782. The company's 50 day simple moving average is $97.66 and its 200 day simple moving average is $137.84. Globant S.A. has a 1-year low of $82.39 and a 1-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. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 2.62 and a beta of 1.20.

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

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.