Stephens Investment Management Group LLC Buys 18,889 Shares of Globant S.A. (NYSE:GLOB)

Stephens Investment Management Group LLC lifted its stake in Globant S.A. (NYSE:GLOB) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,467 shares of the information technology services provider’s stock after purchasing an additional 18,889 shares during the period. Stephens Investment Management Group LLC owned 0.67% of Globant worth $61,639,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its position in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Globant in the third quarter valued at approximately $40,000. Signaturefd LLC boosted its stake in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares during the last quarter. Van ECK Associates Corp grew its holdings in Globant by 62.4% during the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after acquiring an additional 153 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Globant by 56.7% during the 3rd quarter. GAMMA Investing LLC now owns 793 shares of the information technology services provider’s stock valued at $157,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank upped their target price on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. UBS Group reduced their target price on Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.28.

Globant Price Performance

Shares of NYSE GLOB opened at $217.64 on Friday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $245.81. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 56.83, a PEG ratio of 2.46 and a beta of 1.39. The business has a 50-day moving average of $216.10 and a 200-day moving average of $209.14.

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.