Zions Bancorporation N.A. Increases Stock Holdings in Globant S.A. (NYSE:GLOB)

Zions Bancorporation N.A. increased its position in Globant S.A. (NYSE:GLOB) by 18.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,520 shares of the information technology services provider’s stock after acquiring an additional 1,186 shares during the quarter. Zions Bancorporation N.A.’s holdings in Globant were worth $1,612,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in Globant by 2.6% in the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares during the period. JPMorgan Chase & Co. boosted its stake in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after buying an additional 153,385 shares during the period. Victory Capital Management Inc. grew its position in Globant by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after buying an additional 96,257 shares in the last quarter. Jennison Associates LLC increased its stake in Globant by 0.6% in the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after acquiring an additional 4,970 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Globant by 3.5% in the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock valued at $129,252,000 after acquiring an additional 20,365 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GLOB. UBS Group cut their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group cut their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and raised their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $219.71.

Globant Stock Performance

Shares of Globant stock opened at $129.59 on Wednesday. Globant S.A. has a 52-week low of $124.53 and a 52-week high of $238.32. The company’s 50 day moving average price is $180.09 and its 200-day moving average price is $201.97. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm 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%. As a group, equities research analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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.