New York State Common Retirement Fund Sells 52,334 Shares of Globant S.A. (NYSE:GLOB)

New York State Common Retirement Fund decreased its position in Globant S.A. (NYSE:GLOB - Free Report) by 71.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 21,376 shares of the information technology services provider's stock after selling 52,334 shares during the period. New York State Common Retirement Fund's holdings in Globant were worth $2,516,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. boosted its holdings in shares of Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 155 shares during the period. Bessemer Group Inc. bought a new position in shares of Globant during the first quarter worth approximately $39,000. Farther Finance Advisors LLC increased its holdings in shares of Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock worth $45,000 after purchasing an additional 252 shares during the period. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 116 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Globant during the fourth quarter worth approximately $81,000. Institutional investors own 91.60% of the company's stock.

Globant Price Performance

Shares of NYSE:GLOB opened at $89.06 on Wednesday. The company has a 50 day moving average of $97.66 and a 200 day moving average of $136.77. The stock has a market cap of $3.92 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.02 and a beta of 1.20. Globant S.A. has a 12 month low of $82.39 and a 12 month high of $238.32. 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 (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. Globant's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.53 earnings per share. As a group, sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Susquehanna decreased their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC lowered their price objective on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Canaccord Genuity Group reiterated a "hold" rating and issued a $97.00 price objective (down previously from $165.00) on shares of Globant in a report on Thursday, June 26th. Guggenheim reiterated a "buy" rating and issued a $125.00 price objective on shares of Globant in a report on Tuesday, June 10th. Finally, Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $154.00 to $116.00 in a report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $165.69.

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.

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