Globant S.A. (NYSE:GLOB) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its position in Globant S.A. (NYSE:GLOB) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,378 shares of the information technology services provider’s stock after buying an additional 865 shares during the period. Cullen Frost Bankers Inc.’s holdings in Globant were worth $7,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Globant by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock worth $9,988,000 after buying an additional 2,470 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Globant in the fourth quarter worth approximately $306,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Globant in the fourth quarter valued at approximately $490,000. Amalgamated Bank increased its position in Globant by 2.7% during the fourth quarter. Amalgamated Bank now owns 9,022 shares of the information technology services provider’s stock worth $2,147,000 after purchasing an additional 235 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new position in Globant during the fourth quarter worth approximately $3,682,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 1.5 %

Shares of NYSE:GLOB opened at $191.05 on Thursday. The firm has a market cap of $8.23 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. The company has a fifty day simple moving average of $197.94 and a 200 day simple moving average of $211.78. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $251.50.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GLOB. Canaccord Genuity Group reissued a “hold” rating and set a $230.00 price objective on shares of Globant in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lowered their price target on Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. HSBC cut their price objective on Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. UBS Group increased their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Citigroup reduced their target price on shares of Globant from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $244.35.

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.