GQG Partners LLC Acquires Shares of 395,979 Globant S.A. (NYSE:GLOB)

GQG Partners LLC acquired a new stake in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 395,979 shares of the information technology services provider’s stock, valued at approximately $84,906,000.

Several other large investors have also recently made changes to their positions in GLOB. Wasatch Advisors LP grew its holdings in Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after buying an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Globant by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after acquiring an additional 153,385 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after acquiring an additional 96,257 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Globant by 0.6% in the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after purchasing an additional 4,970 shares in the last quarter. Finally, Sei Investments Co. increased its position in Globant by 3.5% in the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock worth $129,252,000 after purchasing an additional 20,365 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on GLOB shares. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Susquehanna started coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. UBS Group decreased their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Scotiabank decreased their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Stock Performance

Shares of NYSE:GLOB opened at $129.49 on Tuesday. The firm’s 50 day simple moving average is $181.64 and its 200-day simple moving average is $202.43. Globant S.A. has a one year low of $124.53 and a one year high of $238.32. The firm has a market cap of $5.70 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS 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 firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Equities research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant Company 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.