Jupiter Asset Management Ltd. Purchases 780 Shares of Globant S.A. (NYSE:GLOB)

Jupiter Asset Management Ltd. boosted its position in shares of Globant S.A. (NYSE:GLOB) by 1.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,483 shares of the information technology services provider’s stock after buying an additional 780 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.16% of Globant worth $14,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings 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 valued at $689,553,000 after buying an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Globant by 6.9% during 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 buying an additional 153,385 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Globant by 6.4% during the 4th 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 last quarter. Jennison Associates LLC raised its holdings in Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after buying an additional 4,970 shares during the last quarter. Finally, abrdn plc raised its holdings in Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after purchasing an additional 126,333 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 1.8 %

Shares of NYSE:GLOB opened at $132.37 on Thursday. Globant S.A. has a twelve month low of $130.06 and a twelve month high of $238.32. The stock has a market capitalization of $5.83 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. The firm’s 50 day moving average price is $194.67 and its 200-day moving average price is $206.20.

Globant (NYSE:GLOB) last issued its quarterly earnings results 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 net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. TD Cowen upped their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and a consensus price target of $221.39.

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.