Icon Advisers Inc. Co. Purchases 3,585 Shares of Globant S.A. (NYSE:GLOB)

Icon Advisers Inc. Co. increased its stake in Globant S.A. (NYSE:GLOB) by 30.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,485 shares of the information technology services provider’s stock after purchasing an additional 3,585 shares during the period. Icon Advisers Inc. Co.’s holdings in Globant were worth $3,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLOB. Barclays PLC grew its position in shares of Globant by 154.2% during the 4th quarter. Barclays PLC now owns 57,282 shares of the information technology services provider’s stock worth $12,282,000 after buying an additional 34,745 shares during the period. Synovus Financial Corp bought a new stake in Globant during the 4th quarter worth approximately $909,000. Townsquare Capital LLC boosted its holdings in shares of Globant by 34.1% in the fourth quarter. Townsquare Capital LLC now owns 7,884 shares of the information technology services provider’s stock valued at $1,690,000 after buying an additional 2,006 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Globant by 54.2% during the fourth quarter. Sterling Capital Management LLC now owns 20,104 shares of the information technology services provider’s stock worth $4,311,000 after acquiring an additional 7,069 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in Globant by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider’s stock worth $3,965,000 after purchasing an additional 110 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GLOB shares. Piper Sandler decreased 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. Susquehanna lowered their price target on Globant from $255.00 to $225.00 and set a “positive” rating on the stock in a research report on Tuesday, April 8th. Scotiabank reduced their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $214.69.

Globant Price Performance

Shares of NYSE GLOB opened at $107.59 on Monday. The stock has a market capitalization of $4.74 billion, a PE ratio of 28.92, a P/E/G ratio of 2.38 and a beta of 1.50. The business’s fifty day moving average price is $150.16 and its 200-day moving average price is $193.06. Globant S.A. has a one year low of $96.23 and a one year high of $238.32.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, equities analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.