Blair William & Co. IL Sells 23,485 Shares of Globant S.A. (NYSE:GLOB)

Blair William & Co. IL reduced its position in shares of Globant S.A. (NYSE:GLOB) by 40.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,013 shares of the information technology services provider’s stock after selling 23,485 shares during the quarter. Blair William & Co. IL’s holdings in Globant were worth $6,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in Globant in the 4th quarter valued at about $306,000. Charles Schwab Investment Management Inc. raised its stake in Globant by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock valued at $9,988,000 after buying an additional 2,470 shares during the period. Principal Securities Inc. acquired a new stake in shares of Globant in the fourth quarter valued at approximately $56,000. Dimensional Fund Advisors LP boosted its stake in shares of Globant by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock worth $65,135,000 after acquiring an additional 7,226 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Globant by 5.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock worth $428,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 2.3 %

GLOB stock opened at $189.06 on Friday. The company’s 50-day moving average price is $195.34 and its two-hundred day moving average price is $187.12. The firm has a market cap of $8.15 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.49 and a beta of 1.40. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same period last year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts predict that Globant S.A. will post 5.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GLOB shares. The Goldman Sachs Group began coverage on Globant in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Scotiabank upped their price target on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. TD Cowen raised their price objective on shares of Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Redburn Atlantic assumed coverage on Globant in a research report on Friday, May 24th. They issued a “sell” rating and a $135.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Globant has an average rating of “Moderate Buy” and an average target price of $222.90.

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.