Matthews International Capital Management LLC Purchases 245 Shares of Globant S.A. (NYSE:GLOB)

Matthews International Capital Management LLC boosted its position in shares of Globant S.A. (NYSE:GLOB) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,859 shares of the information technology services provider’s stock after buying an additional 245 shares during the quarter. Globant makes up about 0.4% of Matthews International Capital Management LLC’s holdings, making the stock its 28th biggest holding. Matthews International Capital Management LLC’s holdings in Globant were worth $1,789,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLOB. Accent Capital Management LLC bought a new position in shares of Globant in the 4th quarter worth about $29,000. CI Investments Inc. increased its stake in shares of Globant by 122.0% in the 3rd 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 in the last quarter. Principal Securities Inc. bought a new position in shares of Globant in the 4th quarter worth about $56,000. GAMMA Investing LLC bought a new position in shares of Globant in the 4th quarter worth about $68,000. Finally, CWM LLC increased its stake in shares of Globant by 13.5% in the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock worth $136,000 after acquiring an additional 68 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GLOB shares. Mizuho decreased their price target on shares of Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. UBS Group raised shares of Globant from a “neutral” rating to a “buy” rating and dropped their price target for the company from $240.00 to $230.00 in a report on Tuesday, May 28th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Piper Sandler reissued an “overweight” rating and issued a $238.00 price objective (down previously from $290.00) on shares of Globant in a report on Friday, May 17th. Finally, Scotiabank decreased their target price on shares of Globant from $200.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.44.

Globant Trading Up 1.7 %

Shares of GLOB traded up $3.01 during trading hours on Wednesday, reaching $177.18. 793,336 shares of the company traded hands, compared to its average volume of 512,400. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.79 and a beta of 1.40. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The stock’s fifty day moving average price is $170.70 and its 200 day moving average price is $204.52.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $571.08 million during the quarter, compared to analyst estimates of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. On average, research analysts forecast that Globant S.A. will post 5 earnings per share 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.