Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Holdings in Globant S.A. (NYSE:GLOB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Globant S.A. (NYSE:GLOB) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,454 shares of the information technology services provider’s stock after purchasing an additional 15,129 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.28% of Globant worth $25,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. M&T Bank Corp boosted its stake in shares of Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after purchasing an additional 71 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock worth $1,032,000 after purchasing an additional 118 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Globant by 3.3% during the 3rd quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after purchasing an additional 122 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Globant by 21.9% in the 4th quarter. GAMMA Investing LLC now owns 967 shares of the information technology services provider’s stock valued at $207,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 3.7 %

NYSE GLOB opened at $128.89 on Friday. The business’s 50-day moving average price is $184.75 and its 200 day moving average price is $203.34. Globant S.A. has a twelve month low of $124.53 and a twelve month high of $238.32. The company has a market capitalization of $5.67 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLOB. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $219.71.

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.