Parkside Financial Bank & Trust Acquires 103 Shares of Globant S.A. (NYSE:GLOB)

Parkside Financial Bank & Trust boosted its position in shares of Globant S.A. (NYSE:GLOB) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,704 shares of the information technology services provider’s stock after acquiring an additional 103 shares during the period. Parkside Financial Bank & Trust’s holdings in Globant were worth $406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Globant by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock worth $319,485,000 after purchasing an additional 49,812 shares during the last quarter. Jennison Associates LLC grew its holdings in Globant by 289.5% during the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after purchasing an additional 714,162 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Globant by 16.2% during the third quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider’s stock worth $145,317,000 after acquiring an additional 102,184 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Globant by 36.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock valued at $167,797,000 after buying an additional 189,204 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Globant by 155.2% in the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock valued at $120,898,000 after buying an additional 371,628 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GLOB shares. JPMorgan Chase & Co. boosted their price objective on shares of Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. UBS Group upped their price target on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $250.00 price target on shares of Globant in a research report on Friday, February 16th. KeyCorp upped their price objective on shares of Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $230.00 price objective on shares of Globant in a report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.24.

Globant Stock Up 0.5 %

Shares of GLOB traded up $0.83 during trading hours on Wednesday, reaching $181.64. 64,962 shares of the company traded hands, compared to its average volume of 448,076. Globant S.A. has a 12 month low of $135.40 and a 12 month high of $251.50. The company’s fifty day moving average price is $207.29 and its two-hundred day moving average price is $212.53. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 1.36 and a beta of 1.35.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The firm had revenue of $580.71 million during the quarter, compared to analysts’ expectations of $579.70 million. On average, analysts expect that Globant S.A. will post 5.03 EPS for the current year.

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.