Raymond James Financial Inc. Purchases New Shares in Globant S.A. (NYSE:GLOB)

Raymond James Financial Inc. acquired a new position in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 78,058 shares of the information technology services provider’s stock, valued at approximately $16,737,000.

A number of other institutional investors have also recently bought and sold shares of GLOB. Principal Financial Group Inc. boosted its position in Globant by 121.3% during the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after acquiring an additional 16,639 shares during the period. Natixis Advisors LLC boosted its position in Globant by 30.4% during the 3rd quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock worth $2,669,000 after acquiring an additional 3,142 shares during the period. TrinityPoint Wealth LLC acquired a new stake in Globant during the 3rd quarter worth about $208,000. Investidor Profissional Gestao de Recursos Ltda. boosted its position in Globant by 109.8% during the 3rd quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 39,595 shares of the information technology services provider’s stock worth $7,845,000 after acquiring an additional 20,725 shares during the period. Finally, Icon Wealth Advisors LLC boosted its position in Globant by 795.3% during the 3rd quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the information technology services provider’s stock worth $5,669,000 after acquiring an additional 25,417 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. Susquehanna assumed coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target for the company. UBS Group reduced their price target on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Finally, Canaccord Genuity Group reduced their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

Globant Stock Up 1.5 %

Shares of NYSE GLOB opened at $136.04 on Tuesday. The business’s 50 day moving average is $189.60 and its two-hundred day moving average is $204.83. The company has a market cap of $5.99 billion, a P/E ratio of 36.57, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12 month low of $128.76 and a 12 month high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Sell-side analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.