Envestnet Asset Management Inc. Boosts Stock Position in Globant S.A. (NYSE:GLOB)

Envestnet Asset Management Inc. lifted its position in Globant S.A. (NYSE:GLOBFree Report) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,953 shares of the information technology services provider’s stock after purchasing an additional 5,243 shares during the quarter. Envestnet Asset Management Inc. owned about 0.65% of Globant worth $65,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Globant by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock valued at $319,485,000 after purchasing an additional 49,812 shares during the last quarter. Capital International Investors boosted its stake in shares of Globant by 0.5% in the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock worth $315,052,000 after buying an additional 6,707 shares during the last quarter. Jennison Associates LLC grew its holdings in Globant by 289.5% during the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after acquiring an additional 714,162 shares during the period. Schroder Investment Management Group raised its position in Globant by 16.2% during the third quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider’s stock valued at $145,317,000 after acquiring an additional 102,184 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Globant by 36.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock valued at $167,797,000 after acquiring an additional 189,204 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. HSBC cut their target price on shares of Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Scotiabank lowered their target price on shares of Globant from $200.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Friday, May 17th. Piper Sandler restated an “overweight” rating and issued a $238.00 price target (down previously from $290.00) on shares of Globant in a research note on Friday, May 17th. JPMorgan Chase & Co. lowered their price target on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Guggenheim started coverage on Globant in a research report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average target price of $217.94.

Check Out Our Latest Report on Globant

Globant Trading Up 0.2 %

GLOB opened at $154.47 on Tuesday. Globant S.A. has a twelve month low of $151.82 and a twelve month high of $251.50. The firm has a market capitalization of $6.66 billion, a PE ratio of 40.54, a PEG ratio of 1.21 and a beta of 1.40. The firm’s 50-day moving average price is $177.97 and its 200 day moving average price is $209.05.

Globant (NYSE:GLOBGet Free Report) last issued its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The business had revenue of $571.08 million for the quarter, compared to analysts’ expectations of $570.72 million. As a group, analysts predict that Globant S.A. will post 5.02 earnings per share for the current fiscal year.

Globant Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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