USS Investment Management Ltd Has $24.64 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

USS Investment Management Ltd decreased its stake in Globant S.A. (NYSE:GLOB - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,931 shares of the information technology services provider's stock after selling 26,800 shares during the period. USS Investment Management Ltd owned about 0.27% of Globant worth $24,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GQG Partners LLC bought a new stake in Globant during the 4th quarter worth approximately $84,906,000. Canada Pension Plan Investment Board acquired a new position in shares of Globant during the fourth quarter worth $60,913,000. JPMorgan Chase & Co. grew its stake in shares of Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Capital International Investors increased its holdings in 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 purchasing an additional 197,064 shares during the period. Finally, abrdn plc raised its position in Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after purchasing an additional 126,333 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Performance

Shares of GLOB stock opened at $105.36 on Tuesday. Globant S.A. has a 52-week low of $88.03 and a 52-week high of $238.32. The company has a 50-day simple moving average of $118.15 and a two-hundred day simple moving average of $176.21. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last issued 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. During the same quarter last year, the business posted $1.53 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GLOB has been the topic of several recent analyst reports. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $154.00 to $116.00 in a report on Friday. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and dropped their target price for the company from $225.00 to $120.00 in a research report on Friday. StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a report on Monday. Mizuho cut their price objective on shares of Globant from $194.00 to $153.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Susquehanna lowered their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $179.19.

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.

Want to see what other hedge funds are holding GLOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globant S.A. (NYSE:GLOB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.