Globant S.A. (NYSE:GLOB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Globant S.A. (NYSE:GLOB) by 56.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 793 shares of the information technology services provider’s stock after buying an additional 287 shares during the quarter. GAMMA Investing LLC’s holdings in Globant were worth $157,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Wasatch Advisors LP boosted its holdings in shares of Globant by 6.8% during the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after purchasing an additional 213,049 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Globant in the 2nd quarter worth $99,396,000. Sei Investments Co. raised its position in shares of Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after buying an additional 155,112 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after buying an additional 161,512 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Globant by 28.4% in the 2nd quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after buying an additional 75,192 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

NYSE:GLOB opened at $207.34 on Friday. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 54.42, a price-to-earnings-growth ratio of 2.61 and a beta of 1.39. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The stock has a 50-day simple moving average of $196.98 and a 200 day simple moving average of $186.03.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $1.04 earnings per share. On average, equities research analysts forecast that Globant S.A. will post 5.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. KeyCorp increased their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. The Goldman Sachs Group assumed coverage on Globant in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Needham & Company LLC raised their price objective on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Citigroup raised their price objective on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, UBS Group reissued a “neutral” rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

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.