Invesco Ltd. Has $23.45 Million Holdings in Globant S.A. (NYSE:GLOB)

Invesco Ltd. lifted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 90.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,356 shares of the information technology services provider's stock after acquiring an additional 51,945 shares during the period. Invesco Ltd. owned 0.25% of Globant worth $23,448,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new position in shares of Globant in the 4th quarter worth $38,000. Kestra Investment Management LLC purchased a new stake in shares of Globant in the fourth quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant during the 3rd quarter worth about $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant during the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new stake in shares of Globant during the fourth quarter worth $64,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Trading Up 4.7 %

NYSE:GLOB traded up $5.30 during trading hours on Thursday, hitting $117.54. 380,327 shares of the stock traded hands, compared to its average volume of 600,044. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 2.38 and a beta of 1.50. The firm has a 50 day moving average price of $132.24 and a 200 day moving average price of $188.14. Globant S.A. has a fifty-two week low of $96.23 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. Research analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank lowered their target price on Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. Piper Sandler cut their price target on shares of Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Susquehanna dropped their price target on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Globant presently has an average rating of "Moderate Buy" and an average price target of $205.88.

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.