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

Segall Bryant & Hamill LLC lessened its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 25.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,230 shares of the information technology services provider's stock after selling 29,835 shares during the period. Segall Bryant & Hamill LLC owned 0.20% of Globant worth $10,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock valued at $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Globant by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider's stock valued at $200,709,000 after purchasing an additional 98,863 shares during the last quarter. Capital International Investors boosted its stake in shares of Globant by 13.1% in the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock valued at $364,723,000 after buying an additional 197,064 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Globant by 86.3% in the first quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider's stock valued at $106,850,000 after buying an additional 420,382 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Globant by 3.5% in the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock valued at $129,252,000 after buying an additional 20,365 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several research reports. Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $154.00 to $116.00 in a report on Friday, May 16th. Scotiabank reduced their price objective on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Guggenheim reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Globant in a research report on Tuesday, June 10th. The Goldman Sachs Group downgraded Globant from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Finally, Susquehanna lowered their price objective on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Globant Stock Performance

NYSE:GLOB opened at $84.54 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $99.46 and a 200-day moving average of $139.64. Globant S.A. has a 1 year low of $82.39 and a 1 year high of $238.32. The stock has a market capitalization of $3.72 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.54 and a beta of 1.20.

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

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