Cullen Frost Bankers Inc. Purchases 865 Shares of Globant S.A. (NYSE:GLOB)

Cullen Frost Bankers Inc. boosted its holdings in Globant S.A. (NYSE:GLOB) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,378 shares of the information technology services provider’s stock after purchasing an additional 865 shares during the period. Cullen Frost Bankers Inc. owned approximately 0.08% of Globant worth $7,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CI Investments Inc. lifted its stake in Globant by 122.0% in the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 72 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Globant in the fourth quarter worth $68,000. CWM LLC grew its position in Globant by 13.5% during the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after purchasing an additional 68 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Globant by 68,900.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock valued at $164,000 after acquiring an additional 689 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new stake in shares of Globant in the 4th quarter worth $201,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLOB. Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of Globant in a report on Friday, February 16th. Piper Sandler increased their target price on shares of Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Mizuho reaffirmed a “buy” rating and set a $279.00 price target (down previously from $283.00) on shares of Globant in a report on Tuesday, February 20th. UBS Group increased their target price on Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Citigroup decreased their price target on shares of Globant from $275.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.35.

Globant Trading Down 1.5 %

GLOB stock opened at $191.05 on Thursday. Globant S.A. has a 12 month low of $135.40 and a 12 month high of $251.50. The stock has a market cap of $8.23 billion, a PE ratio of 52.63, a P/E/G ratio of 1.40 and a beta of 1.35. The company has a 50-day moving average price of $197.94 and a 200 day moving average price of $211.78.

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

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.