Zions Bancorporation N.A. Has $957,000 Holdings in Globant S.A. (NYSE:GLOB)

Zions Bancorporation N.A. cut its position in shares of Globant S.A. (NYSE:GLOB) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,369 shares of the information technology services provider’s stock after selling 172 shares during the period. Zions Bancorporation N.A.’s holdings in Globant were worth $957,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in shares of Globant during the 2nd quarter valued at about $99,396,000. Norges Bank acquired a new position in shares of Globant in the 4th quarter valued at $114,922,000. Wasatch Advisors LP grew its stake in Globant by 6.8% in the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after acquiring an additional 213,049 shares during the period. CIBC Private Wealth Group LLC lifted its stake in Globant by 65.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 405,124 shares of the information technology services provider’s stock valued at $96,411,000 after acquiring an additional 160,616 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in Globant by 48.4% during the fourth quarter. 1832 Asset Management L.P. now owns 422,800 shares of the information technology services provider’s stock worth $100,618,000 after acquiring an additional 137,900 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Citigroup raised their price target on Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Scotiabank upped their price objective on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group started coverage on shares of Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Needham & Company LLC upped their price target on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.90.

Globant Stock Performance

Shares of GLOB opened at $197.00 on Friday. The firm has a market cap of $8.49 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The business’s 50 day moving average price is $194.49 and its two-hundred day moving average price is $188.17.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the company posted $1.04 EPS. Research analysts predict that Globant S.A. will post 5.01 EPS 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.