JPMorgan Chase & Co. decreased its holdings in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 1,264,452 shares of the information technology services provider’s stock after selling 36,807 shares during the quarter. JPMorgan Chase & Co.’s holdings in Globant were worth $397,151,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. abrdn plc increased its holdings in Globant by 385.2% in the fourth quarter. abrdn plc now owns 651,501 shares of the information technology services provider’s stock worth $204,630,000 after purchasing an additional 517,222 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Globant during the 4th quarter worth approximately $151,568,000. Jennison Associates LLC increased its stake in shares of Globant by 41.7% in the 4th quarter. Jennison Associates LLC now owns 1,188,923 shares of the information technology services provider’s stock valued at $373,429,000 after acquiring an additional 349,600 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Globant by 311.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 338,759 shares of the information technology services provider’s stock valued at $95,156,000 after acquiring an additional 256,347 shares during the period. Finally, Wasatch Advisors Inc. boosted its stake in Globant by 3.8% during the third quarter. Wasatch Advisors Inc. now owns 2,761,536 shares of the information technology services provider’s stock worth $776,019,000 after acquiring an additional 100,456 shares in the last quarter. 88.21% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on GLOB. StockNews.com assumed coverage on shares of Globant in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Globant from $352.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, February 18th. Zacks Investment Research cut shares of Globant from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. TheStreet lowered shares of Globant from a “b-” rating to a “c+” rating in a report on Thursday, May 5th. Finally, Cowen lifted their price target on Globant from $300.00 to $305.00 in a research note on Friday, February 18th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Globant currently has a consensus rating of “Buy” and a consensus price target of $345.63.
Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings data on Thursday, February 17th. The information technology services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $379.82 million for the quarter, compared to analysts’ expectations of $361.26 million. Globant had a return on equity of 10.79% and a net margin of 7.41%. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Research analysts expect that Globant S.A. will post 3.98 earnings per share for the current fiscal year.
About Globant (Get Rating)
Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
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