Northern Trust Corp Buys 3,053 Shares of Globant S.A. (NYSE:GLOB)

Northern Trust Corp raised its stake in Globant S.A. (NYSE:GLOB) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,635 shares of the information technology services provider’s stock after purchasing an additional 3,053 shares during the period. Northern Trust Corp’s holdings in Globant were worth $32,299,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. GQG Partners LLC bought a new stake in Globant during the 4th quarter worth approximately $84,906,000. Canada Pension Plan Investment Board bought a new stake in Globant in the fourth quarter worth about $60,913,000. JPMorgan Chase & Co. boosted its stake in Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after acquiring an additional 203,472 shares during the last quarter. Capital International Investors grew its position in shares of Globant by 13.1% during the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock valued at $364,723,000 after acquiring an additional 197,064 shares during the period. Finally, abrdn plc increased its stake in shares of Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after purchasing an additional 126,333 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GLOB shares. Piper Sandler lowered their price objective on Globant from $230.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group boosted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Canaccord Genuity Group dropped their price objective on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. reduced 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, Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and increased their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.00.

Globant Stock Performance

Shares of NYSE:GLOB opened at $128.83 on Friday. The firm has a market capitalization of $5.67 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32. The firm has a fifty day moving average of $119.65 and a 200 day moving average of $180.25.

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 firm had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, sell-side analysts forecast 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.