Mitsubishi UFJ Trust & Banking Corp Has $104.87 Million Stake in Globant S.A. (NYSE:GLOB)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Globant S.A. (NYSE:GLOB) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 489,082 shares of the information technology services provider’s stock after selling 1,485 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Globant were worth $104,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Globant during the 4th quarter valued at $16,737,000. Cullen Frost Bankers Inc. increased its holdings in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock valued at $11,350,000 after purchasing an additional 2,505 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Globant in the third quarter valued at about $11,145,000. NS Partners Ltd bought a new position in Globant during the fourth quarter worth about $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Globant by 18.6% during the 3rd 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GLOB. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. UBS Group decreased their target price on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their price target on 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 decreased their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Stock Performance

GLOB opened at $129.49 on Tuesday. The business’s 50-day simple moving average is $181.64 and its 200 day simple moving average is $202.43. Globant S.A. has a 52-week low of $124.53 and a 52-week high of $238.32. The firm has a market capitalization of $5.70 billion, a PE ratio of 34.81, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last announced 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. On average, research analysts forecast 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.