UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in Globant S.A. (NYSE:GLOB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Globant S.A. (NYSE:GLOB - Free Report) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,068 shares of the information technology services provider's stock after selling 9,748 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Globant worth $9,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Globant during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new position in Globant in the fourth quarter valued at $38,000. Van Berkom & Associates Inc. acquired a new position in Globant in the fourth quarter valued at $45,000. Promus Capital LLC acquired a new position in Globant in the fourth quarter valued at $64,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Globant in the fourth quarter valued at $81,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Price Performance

Shares of GLOB traded up $1.38 during midday trading on Wednesday, hitting $97.96. 741,208 shares of the company traded hands, compared to its average volume of 699,758. The stock has a 50-day moving average of $110.99 and a 200-day moving average of $166.57. Globant S.A. has a one year low of $88.03 and a one year high of $238.32. The firm has a market cap of $4.31 billion, a P/E ratio of 26.33, a PEG ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The company had revenue of $611.09 million for the quarter, compared to analysts' expectations of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.53 EPS. Sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLOB. Needham & Company LLC decreased their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. UBS Group decreased their price objective on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Guggenheim decreased their price objective on shares of Globant from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and an average price target of $179.19.

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.