1,159 Shares in Globant S.A. (NYSE:GLOB) Purchased by Congress Asset Management Co.

Congress Asset Management Co. bought a new stake in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, Holdings Channel reports. The firm bought 1,159 shares of the information technology services provider’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Wasatch Advisors LP raised its holdings in shares of Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. grew its position in Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after purchasing an additional 153,385 shares during the period. Victory Capital Management Inc. raised its stake in Globant by 1,817.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after buying an additional 1,431,112 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after buying an additional 4,970 shares during the period. Finally, abrdn plc boosted its stake in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after buying an additional 126,333 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Price Performance

GLOB stock opened at $222.49 on Wednesday. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $238.32. The business has a 50 day simple moving average of $215.61 and a two-hundred day simple moving average of $210.55. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 2.46 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLOB shares. Canaccord Genuity Group reissued a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. Scotiabank increased their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Susquehanna began coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.28.

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.