Blair William & Co. IL Sells 3,411 Shares of Globant S.A. (NYSE:GLOB)

Blair William & Co. IL reduced its holdings in shares of Globant S.A. (NYSE:GLOB) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,664 shares of the information technology services provider’s stock after selling 3,411 shares during the period. Blair William & Co. IL owned 0.06% of Globant worth $5,288,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after purchasing an additional 203,472 shares during the period. Victory Capital Management Inc. grew its position in shares of Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after buying an additional 96,257 shares during the period. Jennison Associates LLC increased its stake in shares of Globant by 0.6% in the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after acquiring an additional 4,970 shares in the last quarter. Sei Investments Co. lifted its position in shares of Globant by 3.5% during the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock valued at $129,252,000 after acquiring an additional 20,365 shares during the period. Finally, abrdn plc boosted its stake in Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after acquiring an additional 126,333 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Scotiabank cut their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a research report on Saturday. One 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Stock Down 6.3 %

GLOB stock opened at $118.48 on Monday. The firm has a market cap of $5.22 billion, a PE ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. The business has a 50 day moving average of $174.61 and a 200-day moving average of $200.39. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32.

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

About Globant

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.