Congress Asset Management Co. Invests $249,000 in Globant S.A. (NYSE:GLOB)

Congress Asset Management Co. purchased a new stake in shares of Globant S.A. (NYSE:GLOB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,159 shares of the information technology services provider’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLOB. Equitable Trust Co. increased its stake in shares of Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares during the period. M&T Bank Corp boosted its holdings in 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 acquiring an additional 60 shares in the last quarter. Franklin Resources Inc. increased its position in Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after purchasing an additional 71 shares during the period. Signaturefd LLC raised its holdings in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Globant by 3.3% in 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. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 0.9 %

NYSE:GLOB opened at $222.49 on Wednesday. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 2.46 and a beta of 1.39. The company’s 50 day moving average price is $215.61 and its 200-day moving average price is $210.55. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $238.32.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of Globant in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Susquehanna began coverage on Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. Finally, UBS Group dropped their target price on shares of Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.28.

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.