WINTON GROUP Ltd Takes Position in Globant S.A. (NYSE:GLOB)

WINTON GROUP Ltd purchased a new stake in shares of Globant S.A. (NYSE:GLOB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,048 shares of the information technology services provider’s stock, valued at approximately $543,000.

Other large investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new position in shares of Globant during the first quarter valued at $2,138,000. Vanguard Group Inc. lifted its stake in Globant by 7.9% in the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after buying an additional 8,267 shares during the period. Cetera Investment Advisers lifted its stake in Globant by 1,079.8% in the first quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after buying an additional 18,433 shares during the period. Franklin Resources Inc. lifted its stake in Globant by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after buying an additional 111 shares during the period. Finally, Capital International Investors lifted its stake in Globant by 0.5% in the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after buying an additional 6,707 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

NYSE:GLOB opened at $192.41 on Wednesday. The stock has a 50-day simple moving average of $195.12 and a 200 day simple moving average of $187.26. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The company has a market cap of $8.29 billion, a PE ratio of 50.50, a PEG ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $1.04 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts predict that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GLOB. Mizuho cut their target price on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group initiated coverage on Globant in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. KeyCorp increased their price target on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, TD Cowen increased their price target on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.90.

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.