Globant S.A. (NYSE:GLOB) Shares Acquired by Royal Bank of Canada

Posted by on Mar 7th, 2023

Royal Bank of Canada lifted its position in Globant S.A. (NYSE:GLOB – Get Rating) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,247 shares of the information technology services provider’s stock after purchasing an additional 1,109 shares during the quarter. Royal Bank of Canada owned about 0.23% of Globant worth $18,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLOB. Private Advisor Group LLC boosted its holdings in Globant by 5.2% in the first quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock valued at $336,000 after purchasing an additional 63 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Globant by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock worth $910,000 after buying an additional 792 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Globant by 86.9% in the first quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock worth $36,988,000 after buying an additional 65,635 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Globant by 22.2% during the first quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 85 shares during the period. Finally, Zions Bancorporation N.A. raised its position in Globant by 36.6% during the first quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock valued at $712,000 after acquiring an additional 728 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Globant Stock Up 0.7 %

Shares of GLOB opened at $172.95 on Tuesday. The firm’s fifty day moving average is $166.47 and its two-hundred day moving average is $180.79. The stock has a market cap of $7.34 billion, a PE ratio of 49.70 and a beta of 1.43. Globant S.A. has a 52-week low of $151.63 and a 52-week high of $282.13.

Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Globant had a return on equity of 12.09% and a net margin of 8.36%. The business had revenue of $490.72 million for the quarter, compared to analyst estimates of $489.67 million. As a group, research analysts anticipate that Globant S.A. will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on GLOB. Cowen dropped their price objective on shares of Globant from $210.00 to $207.00 and set an “outperform” rating on the stock in a research note on Friday, November 18th. Piper Sandler raised their price target on shares of Globant from $198.00 to $204.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. HSBC assumed coverage on shares of Globant in a research report on Thursday, February 2nd. They issued a “buy” rating and a $240.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Globant from $224.00 to $221.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 14th. Finally, Cowen reduced their price target on Globant from $207.00 to $192.00 in a report on Friday, February 17th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.11.

Globant Company Profile

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Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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