Sentry Investment Management LLC Takes $482,000 Position in Globant S.A. (NYSE:GLOB)

Sentry Investment Management LLC acquired a new stake in Globant S.A. (NYSE:GLOB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,025 shares of the information technology services provider’s stock, valued at approximately $482,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Trust Point Inc. purchased a new stake in Globant during the 4th quarter worth approximately $1,741,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Globant by 146.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider’s stock worth $10,734,000 after purchasing an additional 26,850 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Globant by 112.6% during the 3rd quarter. New York Life Investment Management LLC now owns 4,411 shares of the information technology services provider’s stock worth $873,000 after purchasing an additional 2,336 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Globant by 1.2% during the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock worth $27,316,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Martin Currie Ltd. boosted its holdings in shares of Globant by 30.7% during the 3rd quarter. Martin Currie Ltd. now owns 362,894 shares of the information technology services provider’s stock worth $71,799,000 after purchasing an additional 85,310 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group upped their price objective on Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 26th. JPMorgan Chase & Co. increased their target price on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Wedbush reissued an “outperform” rating and issued a $250.00 target price on shares of Globant in a report on Friday, February 16th. Canaccord Genuity Group reissued a “hold” rating and issued a $230.00 target price on shares of Globant in a report on Tuesday, February 20th. Finally, Needham & Company LLC raised their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average target price of $246.59.

Globant Stock Down 1.4 %

NYSE GLOB opened at $189.69 on Tuesday. Globant S.A. has a 52-week low of $135.40 and a 52-week high of $251.50. The business’s 50-day moving average price is $213.97 and its 200 day moving average price is $213.24. The firm has a market cap of $8.17 billion, a P/E ratio of 52.26, a P/E/G ratio of 1.45 and a beta of 1.35.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The company had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. As a group, analysts anticipate that Globant S.A. will post 5.04 earnings per share for the current year.

About Globant

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.