Axiom Investors LLC DE Purchases 46,649 Shares of Globant S.A. (NYSE:GLOB)

Axiom Investors LLC DE grew its holdings in Globant S.A. (NYSE:GLOB) by 53.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,176 shares of the information technology services provider’s stock after purchasing an additional 46,649 shares during the period. Axiom Investors LLC DE’s holdings in Globant were worth $28,556,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Globant in the fourth quarter worth $16,737,000. Cullen Frost Bankers Inc. increased its position in Globant by 5.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock valued at $11,350,000 after purchasing an additional 2,505 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Globant during the 3rd quarter valued at approximately $11,145,000. NS Partners Ltd bought a new position in Globant in the fourth quarter worth $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after acquiring an additional 8,427 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 6.3 %

Shares of NYSE GLOB opened at $118.48 on Monday. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32. The company has a market cap of $5.22 billion, a PE ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. The stock has a 50 day simple moving average of $174.61 and a 200-day simple moving average of $200.39.

Globant (NYSE:GLOB) last posted 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GLOB. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and upped their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. UBS Group cut their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Piper Sandler cut their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.