Blair William & Co. IL Trims Stock Position in Globant S.A. (NYSE:GLOB)

Key Points

• Blair William & Co. IL reduced its stake in Globant S.A. by 23.6%, holding 18,849 shares worth approximately $2.22 million after selling 5,815 shares in the 1st quarter.
• Globant's recent earnings report revealed an EPS of $1.50, missing estimates by $0.08, and a 7% increase in revenue year-over-year despite falling short of expectations.
• The stock has experienced mixed ratings from analysts, with Mizuho setting an outperform rating and a price target of $153.00, while Goldman Sachs downgraded it to neutral with a target of $120.00.

Blair William & Co. IL lessened its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 23.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,849 shares of the information technology services provider's stock after selling 5,815 shares during the quarter. Blair William & Co. IL's holdings in Globant were worth $2,219,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Signaturefd LLC grew its holdings in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after acquiring an additional 89 shares during the period. Treasurer of the State of North Carolina grew its holdings in Globant by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock worth $3,965,000 after acquiring an additional 110 shares during the period. Blue Trust Inc. grew its holdings in Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after acquiring an additional 116 shares during the period. Commerce Bank grew its holdings in Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after acquiring an additional 151 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Globant by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock worth $712,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a "hold" rating and set a $97.00 price objective (down previously from $165.00) on shares of Globant in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a report on Thursday, July 17th. They set a "hold" rating and a $87.00 price objective on the stock. Susquehanna dropped their price objective on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Scotiabank raised Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price on the stock in a report on Monday, July 21st. Finally, Guggenheim reissued a "buy" rating and issued a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $165.69.

Globant Price Performance

Shares of NYSE:GLOB traded up $3.14 on Wednesday, hitting $79.03. The company had a trading volume of 624,774 shares, compared to its average volume of 1,087,226. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. Globant S.A. has a 52-week low of $73.98 and a 52-week high of $238.32. The business has a 50 day moving average of $89.07 and a 200 day moving average of $122.18. The company has a market cap of $3.48 billion, a PE ratio of 23.41, a PEG ratio of 3.07 and a beta of 1.16.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The company had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. During the same quarter in the prior year, the company earned $1.53 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Globant S.A. will post 5.73 earnings per share 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.