JPMorgan Chase & Co. Purchases 203,472 Shares of Globant S.A. (NYSE:GLOB)

JPMorgan Chase & Co. boosted its position in Globant S.A. (NYSE:GLOB) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,572,080 shares of the information technology services provider’s stock after purchasing an additional 203,472 shares during the period. JPMorgan Chase & Co. owned about 0.06% of Globant worth $551,506,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GLOB. GQG Partners LLC purchased a new stake in shares of Globant in the 4th quarter worth $84,906,000. abrdn plc increased its position in Globant by 36.7% in the fourth 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 in the last quarter. Victory Capital Management Inc. raised 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 worth $344,382,000 after buying an additional 96,257 shares during the period. Principal Financial Group Inc. lifted its position in shares of Globant by 315.8% during the 4th quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after buying an additional 95,848 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Globant by 364.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider’s stock valued at $25,315,000 after acquiring an additional 92,661 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on GLOB. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Susquehanna started coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank cut their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Globant in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Stock Performance

Shares of GLOB opened at $118.48 on Friday. The stock has a market capitalization of $5.22 billion, a PE ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. The company’s fifty day moving average is $174.61 and its 200 day moving average is $200.39. Globant S.A. has a fifty-two week low of $117.61 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share 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 business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, 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.