Northwest & Ethical Investments L.P. Acquires 1,458 Shares of Globant S.A. (NYSE:GLOB)

Northwest & Ethical Investments L.P. boosted its holdings in shares of Globant S.A. (NYSE:GLOB) by 24.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,457 shares of the information technology services provider’s stock after purchasing an additional 1,458 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Globant were worth $1,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLOB. Natixis Advisors LLC raised its stake in Globant by 30.4% during the 3rd quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock valued at $2,669,000 after purchasing an additional 3,142 shares during the period. Icon Wealth Advisors LLC grew its holdings in Globant by 795.3% during the 3rd quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the information technology services provider’s stock valued at $5,669,000 after buying an additional 25,417 shares in the last quarter. Cerity Partners LLC grew its holdings in Globant by 31.0% during the 3rd quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider’s stock valued at $2,977,000 after buying an additional 3,556 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Globant by 5.1% during the 3rd quarter. Fisher Asset Management LLC now owns 27,591 shares of the information technology services provider’s stock valued at $5,467,000 after buying an additional 1,343 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in Globant during the 3rd quarter valued at approximately $8,445,000. Institutional investors own 91.60% of the company’s stock.

Globant Stock Up 1.2 %

GLOB opened at $130.75 on Friday. The business has a fifty day moving average of $183.20 and a 200 day moving average of $202.85. Globant S.A. has a 52-week low of $124.53 and a 52-week high of $238.32. The stock has a market cap of $5.76 billion, a P/E ratio of 35.15, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last posted 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 net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Equities analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several research analyst reports. Susquehanna initiated coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target for the company. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Canaccord Genuity Group cut their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and raised their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Scotiabank dropped their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. 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 a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

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.