Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Globant S.A. (NYSE:GLOB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Globant S.A. (NYSE:GLOB) by 14.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 119,454 shares of the information technology services provider’s stock after purchasing an additional 15,129 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Globant were worth $25,613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its stake in shares of Globant by 5.0% in 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 acquiring an additional 2,505 shares during the period. Raymond James Financial Inc. acquired a new stake in Globant in the 4th quarter valued at $16,737,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Globant in the third quarter valued at about $11,145,000. NS Partners Ltd purchased a new position in Globant in the fourth quarter valued at about $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globant by 18.6% in the third 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 worth $10,663,000 after buying an additional 8,427 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLOB has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Canaccord Genuity Group reduced their target price on shares of 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 lowered their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. UBS Group dropped their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and upped their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Price Performance

Globant stock opened at $128.89 on Friday. The company has a market cap of $5.67 billion, a PE ratio of 34.65, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12 month low of $124.53 and a 12 month high of $238.32. The company has a fifty day moving average price of $184.75 and a two-hundred day moving average price of $203.34.

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