Russell Investments Group Ltd. Has $22.37 Million Holdings in Globant S.A. (NYSE:GLOB)
Russell Investments Group Ltd. cut its stake in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,598 shares of the information technology services provider’s stock after selling 1,112 shares during the period. Russell Investments Group Ltd. owned about 0.29% of Globant worth $22,371,000 as of its most recent SEC filing.
→ Is This The End of Capitalism? (From Porter & Company)
Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Globant by 77.1% in the second quarter. JPMorgan Chase & Co. now owns 3,377,320 shares of the information technology services provider’s stock valued at $587,653,000 after purchasing an additional 1,469,846 shares during the period. Sands Capital Management LLC boosted its position in Globant by 11.7% during the second quarter. Sands Capital Management LLC now owns 1,497,727 shares of the information technology services provider’s stock valued at $260,604,000 after acquiring an additional 156,312 shares during the last quarter. Riverbridge Partners LLC boosted its position in Globant by 9.1% during the third quarter. Riverbridge Partners LLC now owns 1,418,362 shares of the information technology services provider’s stock valued at $265,347,000 after acquiring an additional 118,367 shares during the last quarter. Pendal Group Ltd bought a new stake in Globant during the third quarter valued at $256,020,000. Finally, William Blair Investment Management LLC boosted its position in Globant by 1.2% during the second quarter. William Blair Investment Management LLC now owns 1,289,021 shares of the information technology services provider’s stock valued at $224,290,000 after acquiring an additional 15,178 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.
Globant Price Performance
GLOB opened at $161.01 on Friday. Globant S.A. has a fifty-two week low of $151.63 and a fifty-two week high of $286.63. The firm has a market capitalization of $6.74 billion, a PE ratio of 49.54 and a beta of 1.40. The company’s 50-day moving average is $170.89 and its 200 day moving average is $188.40.
Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings data on Thursday, November 17th. The information technology services provider reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). The firm had revenue of $458.88 million during the quarter, compared to analysts’ expectations of $457.30 million. Globant had a net margin of 8.31% and a return on equity of 11.76%. As a group, analysts expect that Globant S.A. will post 4.08 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Cowen cut their price target on shares of Globant from $210.00 to $207.00 and set an “outperform” rating on the stock in a research report on Friday, November 18th. Citigroup cut their price target on shares of Globant from $270.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, November 21st. Cowen cut their price objective on shares of Globant from $210.00 to $207.00 and set an “outperform” rating on the stock in a research report on Friday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of Globant from $223.00 to $224.00 in a research report on Thursday, December 15th. Finally, Piper Sandler cut their price objective on shares of Globant from $219.00 to $204.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.13.
About Globant
Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Globant, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Globant wasn’t on the list.
While Globant currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
