Northern Trust Corp Has $32.30 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Northern Trust Corp raised its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,635 shares of the information technology services provider's stock after acquiring an additional 3,053 shares during the quarter. Northern Trust Corp owned approximately 0.35% of Globant worth $32,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Globant during the 4th quarter valued at about $16,737,000. Cullen Frost Bankers Inc. grew its stake in Globant by 5.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after buying an additional 2,505 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 in the last quarter. NS Partners Ltd acquired a new position in shares of Globant during the fourth quarter worth $18,933,000. Finally, Segall Bryant & Hamill LLC raised its holdings in Globant by 364.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider's stock valued at $25,315,000 after acquiring an additional 92,661 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GLOB. Susquehanna lowered their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group lowered shares of Globant from a "buy" rating to a "neutral" rating and set a $120.00 target price for the company. in a research note on Friday. Needham & Company LLC lowered their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and set a $116.00 price target for the company. in a research report on Friday. Finally, Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and upped their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Globant presently has an average rating of "Moderate Buy" and an average target price of $186.24.

Globant Stock Performance

Shares of NYSE GLOB traded down $34.05 during mid-day trading on Friday, reaching $98.79. The company had a trading volume of 6,685,131 shares, compared to its average volume of 653,208. The stock has a fifty day moving average of $119.37 and a two-hundred day moving average of $178.25. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.38 and a beta of 1.37. Globant S.A. has a 12-month low of $89.13 and a 12-month high of $238.32.

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 for the quarter, missing the consensus estimate of $1.58 by ($0.08). The business had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Globant's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. Sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.