Sterling Capital Management LLC Has $4.31 Million Holdings in Globant S.A. (NYSE:GLOB)

Sterling Capital Management LLC grew its position in shares of Globant S.A. (NYSE:GLOB) by 54.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,104 shares of the information technology services provider’s stock after buying an additional 7,069 shares during the quarter. Sterling Capital Management LLC’s holdings in Globant were worth $4,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Globant in the fourth quarter valued at about $38,000. Kestra Investment Management LLC bought a new position in shares of Globant in the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB bought a new position in shares of Globant in the third quarter worth about $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant during the fourth quarter worth approximately $45,000. Finally, Promus Capital LLC bought a new stake in shares of Globant during the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GLOB. Scotiabank dropped their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Canaccord Genuity Group cut their price target on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday, April 6th. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Piper Sandler reduced their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $214.69.

Globant Stock Up 2.8 %

GLOB opened at $107.59 on Friday. The stock has a market cap of $4.74 billion, a P/E ratio of 28.92, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12 month low of $96.23 and a 12 month high of $238.32. The company has a fifty day simple moving average of $150.16 and a 200 day simple moving average of $193.09.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) 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 business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. On average, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.