Zions Bancorporation N.A. Purchases 1,186 Shares of Globant S.A. (NYSE:GLOB)

Zions Bancorporation N.A. raised its position in shares of Globant S.A. (NYSE:GLOB) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GLOB. Raymond James Financial Inc. acquired a new stake in shares of Globant during the 4th quarter worth approximately $16,737,000. Cullen Frost Bankers Inc. grew its holdings in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after purchasing an additional 2,505 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Globant in the third quarter valued at $11,145,000. NS Partners Ltd acquired a new position in shares of Globant during the fourth quarter valued at about $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after purchasing an additional 8,427 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Shares of NYSE GLOB opened at $129.59 on Wednesday. The business’s fifty day moving average price is $180.09 and its 200-day moving average price is $201.97. Globant S.A. has a one year low of $124.53 and a one year high of $238.32. The stock has a market capitalization of $5.71 billion, a PE ratio of 34.84, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. As a group, equities analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GLOB. Susquehanna began coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. Piper Sandler cut their target price on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Jefferies Financial Group lifted their price target 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

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.