Impax Asset Management Group plc Boosts Holdings in Globant S.A. (NYSE:GLOB)

Impax Asset Management Group plc raised its stake in shares of Globant S.A. (NYSE:GLOB) by 26.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,269 shares of the information technology services provider’s stock after acquiring an additional 1,711 shares during the period. Impax Asset Management Group plc’s holdings in Globant were worth $1,638,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. BOKF NA raised its position in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. Quarry LP increased its holdings in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant in the 2nd quarter valued at $31,000. ORG Partners LLC boosted its holdings in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. Finally, American National Bank & Trust grew its position in Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GLOB. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. KeyCorp upped their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.21.

Globant Stock Up 0.4 %

NYSE:GLOB opened at $212.83 on Wednesday. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The stock’s fifty day moving average is $204.36 and its two-hundred day moving average is $188.53. The company has a market capitalization of $9.17 billion, a P/E ratio of 55.57, a P/E/G ratio of 2.58 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. Globant’s revenue for the quarter was up 18.1% compared to the same quarter last year. Sell-side analysts anticipate that Globant S.A. will post 5.06 earnings per share for the current fiscal year.

Globant 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.