Sterling Capital Management LLC Has $4.31 Million Stake in Globant S.A. (NYSE:GLOB)

Sterling Capital Management LLC lifted its position in shares of Globant S.A. (NYSE:GLOB) by 54.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,104 shares of the information technology services provider’s stock after purchasing an additional 7,069 shares during the quarter. Sterling Capital Management LLC’s holdings in Globant were worth $4,311,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GLOB. Quantinno Capital Management LP boosted its position in Globant by 14.0% during the 3rd quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider’s stock worth $298,000 after acquiring an additional 185 shares during the last quarter. National Bank of Canada FI boosted its holdings in Globant by 3.3% during the third 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 last quarter. Barclays PLC boosted its holdings in Globant by 132.9% during the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock worth $4,467,000 after purchasing an additional 12,862 shares during the last quarter. M&T Bank Corp grew its position 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 purchasing an additional 60 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in Globant by 26.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock valued at $656,000 after buying an additional 688 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on GLOB. UBS Group reduced their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Scotiabank reduced their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Canaccord Genuity Group lowered their price target on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Piper Sandler cut their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Susquehanna lowered their target price on shares of Globant from $255.00 to $225.00 and set a “positive” rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.69.

Globant Stock Up 2.8 %

Shares of GLOB stock opened at $107.59 on Friday. The firm has a 50 day moving average price of $150.16 and a two-hundred day moving average price of $193.09. The company has a market capitalization of $4.74 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last posted 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 during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, research analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Globant 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.