Victory Capital Management Inc. Sells 74,760 Shares of Globant S.A. (NYSE:GLOB)

Victory Capital Management Inc. reduced its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,818 shares of the information technology services provider's stock after selling 74,760 shares during the quarter. Victory Capital Management Inc. owned 0.18% of Globant worth $17,805,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Globant by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider's stock worth $319,485,000 after purchasing an additional 49,812 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider's stock valued at $228,659,000 after acquiring an additional 714,162 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Globant by 16.2% in the 3rd quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider's stock valued at $145,317,000 after acquiring an additional 102,184 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Globant by 36.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider's stock valued at $167,797,000 after acquiring an additional 189,204 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Globant by 155.2% in the 3rd quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider's stock valued at $120,898,000 after acquiring an additional 371,628 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Down 0.1 %

GLOB stock traded down $0.14 during trading on Friday, reaching $173.04. 823,198 shares of the company's stock were exchanged, compared to its average volume of 459,751. Globant S.A. has a 1-year low of $135.40 and a 1-year high of $251.50. The company's fifty day moving average price is $195.95 and its 200-day moving average price is $211.47. The firm has a market cap of $7.46 billion, a PE ratio of 47.67, a P/E/G ratio of 1.40 and a beta of 1.35.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results 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). Globant had a return on equity of 11.38% and a net margin of 7.56%. The business had revenue of $580.71 million for the quarter, compared to analyst estimates of $579.70 million. As a group, sell-side analysts expect that Globant S.A. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLOB. Mizuho reiterated a "buy" rating and issued a $279.00 price target (down from $283.00) on shares of Globant in a report on Tuesday, February 20th. UBS Group boosted their price target on Globant from $230.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Canaccord Genuity Group reiterated a "hold" rating and issued a $230.00 price target on shares of Globant in a report on Tuesday, February 20th. Piper Sandler boosted their price target on Globant from $257.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Finally, KeyCorp boosted their price objective on Globant from $266.00 to $272.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $242.59.

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.