Victory Capital Management Inc. Has $200.71 Million Stock Position in Globant S.A. (NYSE:GLOB)

Victory Capital Management Inc. increased its stake 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 SEC. The institutional investor owned 1,704,973 shares of the information technology services provider's stock after buying an additional 98,863 shares during the quarter. Victory Capital Management Inc. owned about 3.87% of Globant worth $200,709,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GLOB. Signaturefd LLC lifted its position in shares of Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 89 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Globant in the 1st quarter worth $902,000. Stephens Investment Management Group LLC boosted its position in Globant by 1.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 291,410 shares of the information technology services provider's stock valued at $34,305,000 after buying an additional 3,943 shares during the last quarter. Xponance Inc. grew its stake in shares of Globant by 4.7% during the first quarter. Xponance Inc. now owns 4,943 shares of the information technology services provider's stock valued at $582,000 after acquiring an additional 223 shares in the last quarter. Finally, Flossbach Von Storch SE grew its stake in shares of Globant by 8.6% during the first quarter. Flossbach Von Storch SE now owns 19,000 shares of the information technology services provider's stock valued at $2,237,000 after acquiring an additional 1,500 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Trading Up 1.5%

NYSE GLOB traded up $1.26 on Thursday, reaching $85.87. The company had a trading volume of 800,914 shares, compared to its average volume of 745,189. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 2.54 and a beta of 1.20. Globant S.A. has a fifty-two week low of $82.39 and a fifty-two week high of $238.32. The business has a 50 day moving average of $99.46 and a two-hundred day moving average of $139.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 EPS. Analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on GLOB shares. Deutsche Bank Aktiengesellschaft started coverage on Globant in a research report on Thursday. They issued a "hold" rating and a $87.00 target price on the stock. Needham & Company LLC cut their price target 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. Scotiabank decreased their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Finally, Piper Sandler lowered 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 report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.25.

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.