Globant S.A. (NYSE:GLOB) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its holdings in Globant S.A. (NYSE:GLOB) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,616 shares of the information technology services provider’s stock after purchasing an additional 1,578 shares during the period. Orion Portfolio Solutions LLC’s holdings in Globant were worth $2,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GLOB. M&T Bank Corp lifted its position in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after acquiring an additional 71 shares during the last quarter. Congress Wealth Management LLC DE boosted its position in shares of Globant by 2.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after purchasing an additional 76 shares during the period. PNC Financial Services Group Inc. raised its position in Globant by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock valued at $1,032,000 after purchasing an additional 118 shares during the period. Finally, National Bank of Canada FI raised its position in Globant by 3.3% in the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock valued at $756,000 after purchasing an additional 122 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLOB has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research report on Saturday. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Scotiabank reduced their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average target price of $219.71.

Globant Stock Down 1.6 %

GLOB stock opened at $115.80 on Wednesday. The business has a 50 day moving average price of $170.80 and a 200 day moving average price of $199.26. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a fifty-two week low of $113.65 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share 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 analysts’ expectations of $644.42 million. As a group, sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current 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.