Federated Hermes Inc. lowered its stake in shares of Globant S.A. (NYSE:GLOB – Free Report) by 13.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,458 shares of the information technology services provider’s stock after selling 4,246 shares during the period. Federated Hermes Inc. owned 0.07% of Globant worth $4,667,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in GLOB. Perpetual Ltd acquired a new stake in shares of Globant during the first quarter valued at $222,362,000. Schroder Investment Management Group boosted its stake in Globant by 5,250.3% in the 4th quarter. Schroder Investment Management Group now owns 531,763 shares of the information technology services provider’s stock worth $89,421,000 after buying an additional 521,824 shares during the last quarter. Norges Bank acquired a new stake in Globant in the 4th quarter worth about $71,313,000. Price T Rowe Associates Inc. MD boosted its stake in Globant by 15.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,086,471 shares of the information technology services provider’s stock worth $519,021,000 after buying an additional 416,119 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Globant in the 4th quarter worth about $24,394,000. Institutional investors and hedge funds own 91.91% of the company’s stock.
Globant Stock Performance
Shares of NYSE:GLOB opened at $175.70 on Tuesday. The company has a market cap of $7.43 billion, a P/E ratio of 50.78 and a beta of 1.36. Globant S.A. has a one year low of $135.40 and a one year high of $239.91. The business’s 50-day simple moving average is $179.75 and its 200 day simple moving average is $167.23.
Wall Street Analyst Weigh In
A number of analysts have issued reports on GLOB shares. KeyCorp raised their price target on Globant from $201.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Needham & Company LLC restated a “buy” rating and issued a $205.00 price objective on shares of Globant in a report on Monday, July 24th. Jefferies Financial Group raised their price objective on Globant from $198.00 to $227.00 in a report on Tuesday, June 20th. HSBC raised their price objective on Globant from $235.00 to $240.00 in a report on Monday, July 17th. Finally, Citigroup raised their price objective on Globant from $185.00 to $215.00 in a report on Tuesday, July 25th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.40.
View Our Latest Stock Analysis on GLOB
Globant Profile
Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
Further Reading
- Five stocks we like better than Globant
- Quiet Period Expirations Explained
- 3 Sizzling Dividends That Are Going On Sale
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- 3 Ways To Trade, Trade Desk Stock Post Earnings
- Investing in Travel Stocks Benefits
- Inflation, The Fed, and Oil Prices: Interest Rates Are Going Up
Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.
