GW&K Investment Management LLC Boosts Stake in Globant S.A. (NYSE:GLOB)

GW&K Investment Management LLC raised its position in shares of Globant S.A. (NYSE:GLOB) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,595 shares of the information technology services provider’s stock after buying an additional 1,645 shares during the quarter. GW&K Investment Management LLC owned about 0.86% of Globant worth $79,678,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in shares of Globant during the 4th quarter valued at approximately $38,000. Kestra Investment Management LLC purchased a new stake in Globant during the fourth quarter valued at $38,000. Wilmington Savings Fund Society FSB bought a new position in Globant during the third quarter valued at $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant in the 4th quarter worth $45,000. Finally, Van ECK Associates Corp increased its holdings in shares of Globant by 62.4% in the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after buying an additional 153 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 3.1 %

Shares of NYSE:GLOB opened at $148.14 on Friday. Globant S.A. has a 52-week low of $147.62 and a 52-week high of $238.32. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 2.38 and a beta of 1.39. The business has a 50-day moving average price of $208.60 and a 200-day moving average price of $209.71.

Globant (NYSE:GLOB) last posted its quarterly earnings results 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 analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. As a group, equities analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLOB shares. TD Cowen increased their price target on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group raised 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. JPMorgan Chase & Co. dropped 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. Needham & Company LLC decreased their price target on Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Piper Sandler dropped their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $221.39.

About Globant

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.