Clearbridge Investments LLC Grows Stake in Globant S.A. (NYSE:GLOB)

Clearbridge Investments LLC increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 28.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 339,790 shares of the information technology services provider’s stock after purchasing an additional 75,192 shares during the quarter. Clearbridge Investments LLC owned approximately 0.79% of Globant worth $60,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLOB. Seven Eight Capital LP purchased a new position in shares of Globant during the first quarter worth about $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 last quarter. Cetera Investment Advisers boosted its holdings in shares of 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 acquiring an additional 18,433 shares during the period. Capital International Investors grew its position in shares of Globant by 0.5% during the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock worth $315,052,000 after acquiring an additional 6,707 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Globant by 0.9% in the 4th quarter. Wasatch Advisors LP now owns 3,123,715 shares of the information technology services provider’s stock valued at $743,382,000 after acquiring an additional 28,243 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GLOB. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target for the company. Canaccord Genuity Group raised their price target on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. TD Cowen upped their price objective on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Scotiabank lifted their target price on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Finally, StockNews.com cut Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and an average target price of $222.90.

Globant Stock Performance

Globant stock opened at $200.37 on Thursday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 52.59, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40. The stock’s fifty day moving average is $195.57 and its two-hundred day moving average is $185.96.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Globant S.A. will post 5.02 EPS 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.