Pilgrim Partners Asia Pte Ltd Purchases Shares of 380 Globant S.A. (NYSE:GLOB)

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Globant S.A. (NYSE:GLOB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 380 shares of the information technology services provider’s stock, valued at approximately $81,000.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Globant by 6.4% in the fourth 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 buying an additional 96,257 shares during the period. Jennison Associates LLC raised its position in shares of Globant by 0.6% during the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after acquiring an additional 4,970 shares during the last quarter. Sei Investments Co. lifted its stake in shares of 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 acquiring an additional 20,365 shares during the period. Finally, abrdn plc boosted its holdings in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after acquiring an additional 126,333 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Trading Down 4.7 %

NYSE GLOB opened at $100.14 on Friday. The company has a market cap of $4.41 billion, a P/E ratio of 26.92, a PEG ratio of 2.38 and a beta of 1.47. The company has a fifty day simple moving average of $164.90 and a 200 day simple moving average of $197.37. Globant S.A. has a 12-month low of $96.93 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GLOB shares. Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. Jefferies Financial Group lifted their target price on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Susquehanna assumed coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Finally, Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.56.

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.