Reliant Investment Management LLC Makes New $4.92 Million Investment in Globant S.A. (NYSE:GLOB)

Reliant Investment Management LLC purchased a new position in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,931 shares of the information technology services provider’s stock, valued at approximately $4,917,000. Globant makes up 2.2% of Reliant Investment Management LLC’s portfolio, making the stock its 25th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLOB. Quarry LP grew its holdings in 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 acquiring an additional 143 shares in the last quarter. ORG Partners LLC grew its holdings in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Globant during the 3rd quarter worth approximately $40,000. American National Bank & Trust grew its holdings in 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 in the last quarter. Finally, Signaturefd LLC grew its holdings in 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. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GLOB shares. Needham & Company LLC upped their target price on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Susquehanna started coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price for the company. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Stock Performance

Shares of Globant stock opened at $213.48 on Tuesday. The company has a market cap of $9.20 billion, a P/E ratio of 55.74, a PEG ratio of 2.33 and a beta of 1.38. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The firm has a fifty day moving average of $220.21 and a two-hundred day moving average of $207.10.

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.