Voya Investment Management LLC Boosts Position in Globant S.A. (NYSE:GLOB)

Voya Investment Management LLC lifted its position in Globant S.A. (NYSE:GLOB) by 17.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,270 shares of the information technology services provider’s stock after buying an additional 45,403 shares during the quarter. Voya Investment Management LLC owned approximately 0.72% of Globant worth $66,528,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GQG Partners LLC bought a new position in Globant in the 4th quarter valued at $84,906,000. Canada Pension Plan Investment Board bought a new stake in Globant during the fourth quarter valued at $60,913,000. JPMorgan Chase & Co. grew its position in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after buying an additional 203,472 shares in the last quarter. Capital International Investors increased its stake in Globant by 13.1% in the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after acquiring an additional 197,064 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after acquiring an additional 126,333 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Up 5.4 %

Shares of GLOB opened at $118.33 on Friday. The stock has a market capitalization of $5.21 billion, a P/E ratio of 31.81, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32. The firm has a fifty day simple moving average of $130.12 and a two-hundred day simple moving average of $187.62.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Sell-side analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several research analyst reports. Piper Sandler decreased their price objective on shares of Globant from $230.00 to $154.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group lowered their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Scotiabank reduced their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Finally, StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.88.

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.