Globant S.A. (NYSE:GLOB) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its holdings in shares of Globant S.A. (NYSE:GLOB) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 663,533 shares of the information technology services provider’s stock after selling 26,427 shares during the period. Schroder Investment Management Group’s holdings in Globant were worth $142,275,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Globant during the fourth quarter worth approximately $16,737,000. Cullen Frost Bankers Inc. raised its stake in Globant by 5.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after acquiring an additional 2,505 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Globant in the third quarter valued at $11,145,000. NS Partners Ltd acquired a new position in Globant in the fourth quarter valued at $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after acquiring an additional 8,427 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 6.3 %

Shares of GLOB stock opened at $118.48 on Monday. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. The stock has a 50 day simple moving average of $174.61 and a 200-day simple moving average of $200.39.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on GLOB shares. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and boosted their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Canaccord Genuity Group reduced their price objective on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. Jefferies Financial Group raised their target price on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus price target of $219.71.

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.