Brown Brothers Harriman & Co. Has $27.55 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Brown Brothers Harriman & Co. grew its position in Globant S.A. (NYSE:GLOB) by 97.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,538 shares of the information technology services provider’s stock after purchasing an additional 76,256 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Globant were worth $27,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GLOB. Accent Capital Management LLC bought a new position in Globant in the 4th quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in shares of Globant in the second quarter valued at about $31,000. BOKF NA increased its stake in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the period. RiverPark Advisors LLC acquired a new position in shares of Globant during the 1st quarter worth about $54,000. Finally, Principal Securities Inc. bought a new stake in Globant during the 4th quarter valued at approximately $56,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Price Performance

Shares of NYSE:GLOB opened at $197.00 on Monday. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The business’s fifty day moving average price is $194.49 and its two-hundred day moving average price is $187.65. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts expect that Globant S.A. will post 5.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the topic of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Piper Sandler reiterated an “overweight” rating and set a $240.00 target price (up from $238.00) on shares of Globant in a research note on Friday, August 16th. TD Cowen raised their price target on shares of Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group upped their price objective on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Company 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.