WCM Investment Management LLC lessened its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 346,491 shares of the information technology services provider's stock after selling 12,574 shares during the quarter. WCM Investment Management LLC owned approximately 0.82% of Globant worth $83,130,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GLOB. CI Investments Inc. boosted its holdings in shares of Globant by 122.0% during the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 72 shares during the period. Cornerstone Planning Group LLC bought a new stake in shares of Globant during the second quarter worth approximately $50,000. Fortis Capital Advisors LLC bought a new stake in shares of Globant during the first quarter worth approximately $55,000. Rockefeller Capital Management L.P. boosted its stake in shares of Globant by 303.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 375 shares of the information technology services provider's stock valued at $62,000 after buying an additional 282 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in shares of Globant in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 91.60% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on GLOB shares. Guggenheim started coverage on Globant in a research note on Tuesday, March 19th. They issued a "buy" rating and a $250.00 price target for the company. Piper Sandler upped their price target on shares of Globant from $257.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. Citigroup upped their price target on shares of Globant from $215.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, January 17th. Wedbush restated an "outperform" rating and issued a $250.00 price objective on shares of Globant in a report on Friday, February 16th. Finally, HSBC decreased their price objective on Globant from $275.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Globant has an average rating of "Moderate Buy" and an average target price of $246.59.
Check Out Our Latest Report on GLOB
Globant Price Performance
Shares of GLOB stock traded down $8.27 on Friday, reaching $192.34. 236,731 shares of the company were exchanged, compared to its average volume of 491,582. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 1.51 and a beta of 1.35. The company has a 50-day moving average of $215.05 and a 200-day moving average of $213.17. Globant S.A. has a one year low of $135.40 and a one year high of $251.50.
Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.08). The company had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, sell-side analysts predict that Globant S.A. will post 5.04 EPS for the current year.
Globant Company Profile
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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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