Charles Schwab Investment Management Inc. Reduces Holdings in Globant S.A. (NYSE:GLOB)

Charles Schwab Investment Management Inc. decreased its holdings in Globant S.A. (NYSE:GLOB) by 31.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,062 shares of the information technology services provider’s stock after selling 8,798 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Globant were worth $4,087,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. LGT Group Foundation acquired a new position in shares of Globant during the fourth quarter worth about $1,583,000. GW&K Investment Management LLC increased its stake in shares of Globant by 0.4% during the 4th quarter. GW&K Investment Management LLC now owns 371,595 shares of the information technology services provider’s stock worth $79,678,000 after purchasing an additional 1,645 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Globant during the fourth quarter valued at $38,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant in the fourth quarter valued at approximately $45,000. Finally, Flossbach Von Storch SE grew its position in shares of Globant by 6.1% in the fourth quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider’s stock valued at $3,752,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analysts Set New Price Targets

GLOB has been the subject of several research reports. 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 research note on Friday, February 21st. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Jefferies Financial Group increased their price target 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. Scotiabank decreased their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Trading Down 1.9 %

NYSE GLOB opened at $127.46 on Thursday. The stock’s 50-day moving average price is $178.31 and its two-hundred day moving average price is $201.45. The company has a market cap of $5.61 billion, a PE ratio of 34.26, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1 year low of $124.53 and a 1 year 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 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Research analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal 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.