Zurcher Kantonalbank Zurich Cantonalbank Purchases 14,122 Shares of Globant S.A. (NYSE:GLOB)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Globant S.A. (NYSE:GLOB) by 25.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 70,370 shares of the information technology services provider’s stock after acquiring an additional 14,122 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globant were worth $15,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in Globant in the 4th quarter worth about $38,000. Kestra Investment Management LLC purchased a new position in shares of Globant in the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the third quarter valued at approximately $40,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant during the 4th quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new position in Globant in the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

GLOB has been the topic of a number of analyst reports. Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price on the stock. TD Cowen boosted their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank dropped their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Globant in a report on Wednesday. Finally, StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Stock Performance

NYSE GLOB opened at $132.37 on Thursday. The company has a market capitalization of $5.83 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 52-week low of $130.06 and a 52-week high of $238.32. The company has a fifty day moving average of $194.67 and a 200-day moving average of $206.20.

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