US Bancorp DE Trims Position in Globant S.A. (NYSE:GLOB)

US Bancorp DE lessened its position in shares of Globant S.A. (NYSE:GLOB) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 12,858 shares of the information technology services provider’s stock after selling 225 shares during the quarter. US Bancorp DE’s holdings in Globant were worth $2,757,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of GLOB. Victory Capital Management Inc. increased its position in Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after acquiring an additional 1,431,112 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares during the period. abrdn plc grew its holdings in Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after purchasing an additional 126,333 shares during the period. Principal Financial Group Inc. grew its holdings in Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after purchasing an additional 95,848 shares during the period. Finally, Wasatch Advisors LP grew its holdings in Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Down 3.9 %

Shares of NYSE:GLOB opened at $140.78 on Friday. Globant S.A. has a 52-week low of $140.14 and a 52-week high of $238.32. The stock has a market cap of $6.07 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The business’s 50 day moving average is $201.16 and its 200 day moving average is $208.07.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company 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%. On average, sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GLOB shares. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Susquehanna began coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Finally, Canaccord Genuity Group decreased their price objective on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and a consensus price target of $221.39.

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.