Globant S.A. (NYSE:GLOB) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Globant S.A. (NYSE:GLOB) by 2.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,813 shares of the information technology services provider’s stock after acquiring an additional 118 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Globant were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in GLOB. Principal Financial Group Inc. increased its position in Globant by 121.3% during the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after buying an additional 16,639 shares during the period. Impax Asset Management Group plc grew its stake in shares of Globant by 26.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,269 shares of the information technology services provider’s stock valued at $1,638,000 after purchasing an additional 1,711 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Globant by 30.4% in the 3rd quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock valued at $2,669,000 after purchasing an additional 3,142 shares during the last quarter. TrinityPoint Wealth LLC purchased a new position in shares of Globant in the 3rd quarter valued at approximately $208,000. Finally, Investidor Profissional Gestao de Recursos Ltda. grew its stake in shares of Globant by 109.8% in the 3rd quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 39,595 shares of the information technology services provider’s stock valued at $7,845,000 after purchasing an additional 20,725 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and lifted their target price for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group lifted their target price on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

Globant Stock Performance

GLOB opened at $134.43 on Monday. The business’s fifty day moving average is $191.29 and its two-hundred day moving average is $205.27. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a one year low of $128.76 and a one year high of $238.32.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.