USS Investment Management Ltd lowered its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of GLOB. Centricity Wealth Management LLC acquired a new stake in shares of Globant during the 4th quarter valued at $38,000. Kestra Investment Management LLC acquired a new stake in shares of Globant during the 4th quarter valued at $38,000. Van Berkom & Associates Inc. bought a new position in shares of Globant during the 4th quarter valued at $45,000. Promus Capital LLC bought a new position in shares of Globant during the 4th quarter valued at $64,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Globant during the 4th quarter valued at $81,000. Institutional investors and hedge funds own 91.60% of the company's stock.
Globant Trading Down 4.2%
GLOB stock traded down $4.47 during trading on Friday, reaching $100.90. 850,536 shares of the stock were exchanged, compared to its average volume of 685,626. Globant S.A. has a twelve month low of $88.03 and a twelve month high of $238.32. The company has a market capitalization of $4.44 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The stock has a 50 day simple moving average of $115.76 and a 200-day simple moving average of $173.40.
Globant (NYSE:GLOB - Get Free Report) last released its earnings results 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. During the same period last year, the business earned $1.53 earnings per share. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Globant S.A. will post 5.73 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Needham & Company LLC cut their price target 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. Susquehanna cut 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. Guggenheim cut their price target on shares of Globant from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Finally, Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and upped their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $179.19.
View Our Latest Stock Report on Globant
About Globant
(
Free Report)
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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