Russell Investments Group Ltd. Purchases 4,940 Shares of Globant S.A. (NYSE:GLOB)

Russell Investments Group Ltd. raised its position in Globant S.A. (NYSE:GLOB) by 5.1% in the 4th quarter, HoldingsChannel reports. The fund owned 102,269 shares of the information technology services provider’s stock after purchasing an additional 4,940 shares during the period. Russell Investments Group Ltd.’s holdings in Globant were worth $24,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. CI Investments Inc. boosted its position in shares of Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Globant during the fourth quarter valued at approximately $68,000. CWM LLC grew its stake in shares of Globant by 13.5% in the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after purchasing an additional 68 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Globant by 68,900.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock worth $164,000 after buying an additional 689 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new position in shares of Globant during the 4th quarter worth approximately $201,000. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GLOB. Wedbush reiterated an “outperform” rating and issued a $250.00 price target on shares of Globant in a research report on Friday, February 16th. Canaccord Genuity Group reiterated a “hold” rating and set a $230.00 target price on shares of Globant in a research report on Tuesday, February 20th. Guggenheim began coverage on shares of Globant in a research report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price target on the stock. KeyCorp upped their price objective on shares of Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, Piper Sandler lifted their target price on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.41.

Globant Stock Down 0.4 %

Shares of GLOB opened at $177.93 on Thursday. The stock’s fifty day simple moving average is $201.68 and its 200-day simple moving average is $211.83. The firm has a market capitalization of $7.67 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 1.39 and a beta of 1.35. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. Analysts anticipate that Globant S.A. will post 5.03 EPS for the current year.

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.