DekaBank Deutsche Girozentrale Raises Stock Position in Globant S.A. (NYSE:GLOB)

DekaBank Deutsche Girozentrale grew its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 146.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 45,190 shares of the information technology services provider's stock after acquiring an additional 26,850 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.11% of Globant worth $10,734,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Globant during the 4th quarter worth $4,587,000. Trust Point Inc. acquired a new position in shares of Globant during the 4th quarter worth $1,741,000. Carlson Capital Management acquired a new position in shares of Globant during the 4th quarter worth $205,000. SG Americas Securities LLC raised its holdings in shares of Globant by 85.4% during the 4th quarter. SG Americas Securities LLC now owns 7,847 shares of the information technology services provider's stock worth $1,867,000 after buying an additional 3,614 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of Globant by 12.3% during the 4th quarter. Moody National Bank Trust Division now owns 9,100 shares of the information technology services provider's stock worth $2,166,000 after buying an additional 1,000 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

GLOB stock traded down $2.89 on Wednesday, reaching $198.13. 275,979 shares of the company traded hands, compared to its average volume of 465,910. Globant S.A. has a one year low of $135.40 and a one year high of $251.50. The company has a market cap of $8.54 billion, a P/E ratio of 54.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.35. The firm has a fifty day simple moving average of $217.08 and a 200-day simple moving average of $213.20.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The business had revenue of $580.71 million for the quarter, compared to analysts' expectations of $579.70 million. On average, sell-side analysts forecast that Globant S.A. will post 5.04 EPS for the current year.

Wall Street Analyst Weigh In

GLOB has been the subject of several recent research reports. UBS Group increased their price target on Globant from $230.00 to $240.00 and gave the company a "neutral" rating in a research note on Monday, February 26th. Piper Sandler increased their price target on Globant from $257.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, February 16th. Guggenheim initiated coverage on Globant in a research note on Tuesday, March 19th. They issued a "buy" rating and a $250.00 price target for the company. JPMorgan Chase & Co. increased their price target on Globant from $266.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $230.00 target price on shares of Globant in a research report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $246.59.

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.