Globant S.A. (NYSE:GLOB) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lessened its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,230 shares of the information technology services provider's stock after selling 29,835 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.20% of Globant worth $10,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLOB. Physician Wealth Advisors Inc. lifted its holdings in Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Bessemer Group Inc. purchased a new position in Globant during the first quarter valued at $39,000. Farther Finance Advisors LLC lifted its holdings in Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 252 shares in the last quarter. Signaturefd LLC lifted 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 valued at $46,000 after purchasing an additional 89 shares in the last quarter. Finally, Blue Trust Inc. lifted 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 valued at $71,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analyst Weigh In

GLOB has been the topic of several research reports. Piper Sandler downgraded shares of Globant from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Guggenheim reissued a "buy" rating and issued a $125.00 price target on shares of Globant in a research note on Tuesday, June 10th. Needham & Company LLC reduced their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Scotiabank reduced their target price on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $167.25.

Globant Stock Down 1.0%

NYSE GLOB traded down $0.89 on Friday, hitting $84.28. 1,008,549 shares of the stock were exchanged, compared to its average volume of 747,310. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. Globant S.A. has a fifty-two week low of $82.39 and a fifty-two week high of $238.32. The company has a market cap of $3.71 billion, a PE ratio of 24.93, a PEG ratio of 2.98 and a beta of 1.20. The company has a 50-day moving average price of $97.66 and a 200-day moving average price of $137.30.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). The firm had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 EPS. Sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant Company 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.