Nuveen Asset Management LLC Reduces Position in Globant S.A. (NYSE:GLOB)

Nuveen Asset Management LLC lessened its position in Globant S.A. (NYSE:GLOB - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,491 shares of the information technology services provider's stock after selling 3,101 shares during the period. Nuveen Asset Management LLC owned approximately 0.24% of Globant worth $22,619,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in Globant during the fourth quarter worth $38,000. Kestra Investment Management LLC acquired a new stake in Globant during the fourth quarter worth approximately $38,000. Van Berkom & Associates Inc. acquired a new stake in Globant during the fourth quarter worth approximately $45,000. Promus Capital LLC acquired a new stake in Globant during the fourth quarter worth approximately $64,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Globant during the fourth quarter worth about $81,000. Institutional investors own 91.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLOB. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $154.00 to $116.00 in a report on Friday, May 16th. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $225.00 to $120.00 in a research report on Friday, May 16th. Needham & Company LLC dropped their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Scotiabank lowered their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $179.19.

Globant Stock Performance

NYSE:GLOB traded down $2.69 during trading hours on Wednesday, reaching $98.96. The company's stock had a trading volume of 497,164 shares, compared to its average volume of 686,782. Globant S.A. has a 12 month low of $88.03 and a 12 month high of $238.32. The company has a market capitalization of $4.36 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The stock has a 50 day moving average price of $114.55 and a two-hundred day moving average price of $171.57.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results 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 net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $611.09 million for the quarter, compared to analysts' expectations of $622.18 million. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts predict 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.