Bank of Montreal Can Acquires 7,110 Shares of Globant S.A. (NYSE:GLOB)

Bank of Montreal Can lifted its holdings in Globant S.A. (NYSE:GLOB) by 48.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,642 shares of the information technology services provider’s stock after acquiring an additional 7,110 shares during the period. Bank of Montreal Can owned approximately 0.05% of Globant worth $4,278,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GLOB. Quarry LP grew its position in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC bought a new position in Globant in the 2nd quarter valued at about $31,000. ORG Partners LLC raised its position in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares in the last quarter. American National Bank & Trust lifted its holdings in shares of Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 185 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Trading Down 1.8 %

GLOB stock opened at $221.95 on Wednesday. The firm has a market cap of $9.56 billion, a PE ratio of 57.95, a price-to-earnings-growth ratio of 2.79 and a beta of 1.37. The stock has a 50-day moving average price of $215.63 and a 200-day moving average price of $194.82. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group reissued a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Scotiabank raised their price target 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. Needham & Company LLC upped their price objective on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, TD Cowen raised their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $229.06.

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.