Segall Bryant & Hamill LLC Purchases 92,661 Shares of Globant S.A. (NYSE:GLOB)

Segall Bryant & Hamill LLC lifted its position in shares of Globant S.A. (NYSE:GLOB) by 364.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,065 shares of the information technology services provider’s stock after buying an additional 92,661 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Globant were worth $25,315,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GLOB. JPMorgan Chase & Co. boosted its holdings 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 valued at $469,316,000 after purchasing an additional 153,385 shares during the period. abrdn plc raised its position in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after buying an additional 126,333 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after buying an additional 96,257 shares during the period. Principal Financial Group Inc. grew its position in Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock worth $27,060,000 after buying an additional 95,848 shares in the last quarter. Finally, Wasatch Advisors LP increased its stake in Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after acquiring an additional 88,829 shares during the period. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GLOB. Scotiabank cut their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Canaccord Genuity Group decreased their price objective on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Piper Sandler cut their target price on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.71.

Globant Stock Performance

GLOB stock opened at $129.49 on Tuesday. The business has a 50-day simple moving average of $181.64 and a two-hundred day simple moving average of $202.43. The company has a market capitalization of $5.70 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 52-week low of $124.53 and a 52-week high of $238.32.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share 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.