Gotham Asset Management LLC Grows Stock Position in Globant S.A. (NYSE:GLOB)

Gotham Asset Management LLC boosted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,719 shares of the information technology services provider's stock after purchasing an additional 2,530 shares during the quarter. Gotham Asset Management LLC owned 0.10% of Globant worth $8,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. increased its position in Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after purchasing an additional 71 shares in the last quarter. Congress Wealth Management LLC DE increased its position in Globant by 2.9% during the 4th 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 in the last quarter. Treasurer of the State of North Carolina increased its position in Globant by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock worth $3,965,000 after purchasing an additional 110 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock worth $1,032,000 after acquiring an additional 118 shares during the last quarter. Finally, Commerce Bank grew its holdings 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. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Performance

Shares of NYSE GLOB traded down $32.27 during mid-day trading on Friday, hitting $100.58. The stock had a trading volume of 11,007,198 shares, compared to its average volume of 669,697. Globant S.A. has a 1 year low of $89.13 and a 1 year high of $238.32. The business has a 50 day moving average price of $119.37 and a two-hundred day moving average price of $178.25. The firm has a market cap of $4.43 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLOB. UBS Group reduced their price objective on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. StockNews.com downgraded shares of Globant from a "hold" rating to a "sell" rating in a research report on Sunday, May 11th. Piper Sandler downgraded shares of 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. Finally, Scotiabank lowered their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and a consensus target price of $186.24.

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.