Commonwealth Equity Services LLC Trims Holdings in Globant S.A. (NYSE:GLOB)

Commonwealth Equity Services LLC decreased its position in shares of Globant S.A. (NYSE:GLOB) by 4.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,920 shares of the information technology services provider’s stock after selling 227 shares during the period. Commonwealth Equity Services LLC’s holdings in Globant were worth $1,055,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. increased its holdings in Globant by 1.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 69,483 shares of the information technology services provider’s stock valued at $14,899,000 after buying an additional 780 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Globant by 3,513.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 831 shares of the information technology services provider’s stock worth $178,000 after buying an additional 808 shares in the last quarter. HighTower Advisors LLC raised its holdings in Globant by 13.3% during the 4th quarter. HighTower Advisors LLC now owns 6,483 shares of the information technology services provider’s stock valued at $1,390,000 after buying an additional 759 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Globant by 25.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,370 shares of the information technology services provider’s stock valued at $15,089,000 after buying an additional 14,122 shares during the period. Finally, Amundi increased its stake in Globant by 209.2% in the 4th quarter. Amundi now owns 2,718 shares of the information technology services provider’s stock worth $580,000 after buying an additional 1,839 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GLOB. Scotiabank dropped 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 note on Monday, February 24th. Susquehanna initiated coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Canaccord Genuity Group dropped their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Finally, Piper Sandler lowered their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $219.71.

Globant Stock Down 0.7 %

Globant stock opened at $117.70 on Tuesday. The firm has a market capitalization of $5.18 billion, a P/E ratio of 31.64, a PEG ratio of 2.38 and a beta of 1.47. The firm has a fifty day moving average of $172.69 and a 200-day moving average of $199.83. Globant S.A. has a 52-week low of $114.18 and a 52-week high of $238.32.

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 return on equity of 11.83% and a net margin of 6.86%. The firm 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 EPS for the current fiscal year.

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.