Blair William & Co. IL Reduces Stock Position in Globant S.A. (NYSE:GLOB)

Blair William & Co. IL trimmed its stake in shares of Globant S.A. (NYSE:GLOB) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,664 shares of the information technology services provider’s stock after selling 3,411 shares during the quarter. Blair William & Co. IL’s holdings in Globant were worth $5,288,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLOB. M&T Bank Corp grew its position in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after buying an additional 71 shares in the last quarter. Congress Wealth Management LLC DE lifted its position in Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after buying an additional 76 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Globant by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock valued at $1,032,000 after acquiring an additional 118 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Globant by 3.3% during the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after acquiring an additional 122 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Down 6.3 %

GLOB opened at $118.48 on Monday. Globant S.A. has a twelve month low of $117.61 and a twelve month high of $238.32. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.38 and a beta of 1.47. The firm has a 50 day moving average price of $174.61 and a 200-day moving average price of $200.39.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and raised their price objective for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. Jefferies Financial Group lifted their price objective on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Scotiabank reduced their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Piper Sandler lowered their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $219.71.

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.