Invesco Ltd. Buys 51,945 Shares of Globant S.A. (NYSE:GLOB)

Invesco Ltd. lifted its stake in Globant S.A. (NYSE:GLOB) by 90.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,356 shares of the information technology services provider’s stock after buying an additional 51,945 shares during the quarter. Invesco Ltd. owned about 0.25% of Globant worth $23,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Centricity Wealth Management LLC purchased a new position in shares of Globant in the fourth quarter valued at about $38,000. Kestra Investment Management LLC purchased a new stake in shares of Globant during the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB bought a new stake in Globant during the 3rd quarter valued at approximately $40,000. Van Berkom & Associates Inc. purchased a new position in Globant in the 4th quarter worth approximately $45,000. Finally, Promus Capital LLC bought a new position in Globant in the 4th quarter worth approximately $64,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Trading Down 0.8 %

GLOB opened at $105.69 on Friday. Globant S.A. has a 12 month low of $96.23 and a 12 month high of $238.32. The stock has a fifty day moving average price of $139.24 and a 200-day moving average price of $190.00. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS 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. On average, equities research analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLOB. Susquehanna lowered their target price on shares of Globant from $255.00 to $225.00 and set a “positive” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Scotiabank decreased their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Piper Sandler cut their price target on Globant from $230.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, StockNews.com cut Globant from a “hold” rating to a “sell” rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average price target of $209.94.

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.