Globant S.A. (NYSE:GLOB) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its holdings in shares of Globant S.A. (NYSE:GLOB) by 97.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 154,538 shares of the information technology services provider’s stock after purchasing an additional 76,256 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.36% of Globant worth $27,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Accent Capital Management LLC acquired a new position in Globant during the 4th quarter valued at about $29,000. BOKF NA raised its holdings in Globant by 15,800.0% during the first 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. Ridgewood Investments LLC bought a new stake in Globant during the second quarter worth approximately $31,000. Principal Securities Inc. acquired a new stake in Globant in the fourth quarter worth approximately $56,000. Finally, RiverPark Advisors LLC bought a new position in Globant during the 1st quarter valued at $54,000. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Redburn Atlantic began coverage on shares of Globant in a research report on Friday, May 24th. They set a “sell” rating and a $135.00 price objective for the company. Scotiabank boosted their target price on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Piper Sandler restated an “overweight” rating and set a $240.00 target price (up from $238.00) on shares of Globant in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price target on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $222.90.

Globant Stock Down 0.2 %

GLOB stock opened at $197.00 on Monday. The company has a 50 day moving average of $194.49 and a two-hundred day moving average of $187.65. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts anticipate that Globant S.A. will post 5.01 EPS for the current year.

About Globant

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.