Globant S.A. (NYSE:GLOB) Stock Position Reduced by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. decreased its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,390 shares of the information technology services provider's stock after selling 22,019 shares during the quarter. Globant comprises about 0.7% of Comgest Global Investors S.A.S.'s portfolio, making the stock its 26th biggest holding. Comgest Global Investors S.A.S. owned approximately 0.44% of Globant worth $40,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Icon Advisers Inc. Co. grew its stake in shares of Globant by 30.1% in the 4th quarter. Icon Advisers Inc. Co. now owns 15,485 shares of the information technology services provider's stock valued at $3,320,000 after buying an additional 3,585 shares during the period. Barclays PLC increased its position in shares of Globant by 154.2% during the fourth quarter. Barclays PLC now owns 57,282 shares of the information technology services provider's stock worth $12,282,000 after acquiring an additional 34,745 shares during the period. Synovus Financial Corp purchased a new stake in Globant during the 4th quarter worth about $909,000. Townsquare Capital LLC lifted its stake in Globant by 34.1% in the fourth quarter. Townsquare Capital LLC now owns 7,884 shares of the information technology services provider's stock worth $1,690,000 after acquiring an additional 2,006 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Globant by 54.2% in the fourth quarter. Sterling Capital Management LLC now owns 20,104 shares of the information technology services provider's stock worth $4,311,000 after acquiring an additional 7,069 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLOB. JPMorgan Chase & Co. decreased their price objective on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. UBS Group decreased their target price 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. Scotiabank cut their price target on Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a research note on Monday, February 24th. Finally, Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and increased their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Globant presently has an average rating of "Moderate Buy" and an average target price of $209.94.

Globant Stock Performance

Globant stock traded down $0.90 during midday trading on Friday, reaching $105.69. 401,366 shares of the company were exchanged, compared to its average volume of 595,817. The firm's 50-day simple moving average is $139.24 and its 200-day simple moving average is $190.00. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. On average, analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant Company 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.