Zurcher Kantonalbank Zurich Cantonalbank Invests $11.15 Million in Globant S.A. (NYSE:GLOB)

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Globant S.A. (NYSE:GLOB) during the third quarter, Holdings Channel reports. The firm bought 56,248 shares of the information technology services provider’s stock, valued at approximately $11,145,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after acquiring an additional 8,267 shares in the last quarter. Janus Henderson Group PLC lifted its position in Globant by 17.6% during the first quarter. Janus Henderson Group PLC now owns 16,906 shares of the information technology services provider’s stock valued at $3,414,000 after purchasing an additional 2,529 shares during the last quarter. Swedbank AB bought a new position in Globant during the first quarter valued at $9,974,000. Cetera Investment Advisers grew its stake in shares of Globant by 1,079.8% in the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after buying an additional 18,433 shares in the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Globant in the 1st quarter worth about $297,000. 91.60% of the stock is owned by institutional investors.

Globant Stock Performance

Globant stock opened at $227.76 on Friday. The company has a market capitalization of $9.81 billion, a PE ratio of 59.47, a P/E/G ratio of 2.83 and a beta of 1.39. The company has a 50 day moving average price of $214.47 and a 200-day moving average price of $193.99. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GLOB. Jefferies Financial Group increased their price target on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Scotiabank lifted their target price on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Piper Sandler cut their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. KeyCorp raised their price target on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Citigroup boosted their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.06.

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.