Associated Banc Corp Acquires New Position in Globant S.A. (NYSE:GLOB)

Associated Banc Corp acquired a new stake in Globant S.A. (NYSE:GLOB) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,137 shares of the information technology services provider’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Globant in the second quarter valued at $31,000. BOKF NA boosted its position in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares in the last quarter. ORG Partners LLC grew its stake in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Finally, American National Bank & Trust increased its holdings in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GLOB shares. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. UBS Group reaffirmed a “neutral” rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC upped their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lifted their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $229.06.

Globant Stock Performance

Shares of GLOB opened at $230.93 on Wednesday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock has a fifty day moving average of $212.20 and a two-hundred day moving average of $192.98. The company has a market capitalization of $9.95 billion, a PE ratio of 60.30, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39.

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.