GUARDCAP ASSET MANAGEMENT Ltd Sells 449 Shares of Globant S.A. (NYSE:GLOB)

GUARDCAP ASSET MANAGEMENT Ltd decreased its stake in Globant S.A. (NYSE:GLOB) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,011 shares of the information technology services provider’s stock after selling 449 shares during the period. Globant accounts for approximately 0.0% of GUARDCAP ASSET MANAGEMENT Ltd’s holdings, making the stock its 22nd largest position. GUARDCAP ASSET MANAGEMENT Ltd’s holdings in Globant were worth $2,575,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Wasatch Advisors LP grew its holdings in shares of Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after purchasing an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after buying an additional 153,385 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after acquiring an additional 96,257 shares during the period. Jennison Associates LLC boosted its position in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after acquiring an additional 4,970 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Globant by 3.5% in the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock valued at $129,252,000 after acquiring an additional 20,365 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. UBS Group dropped their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Piper Sandler dropped their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $219.71.

Globant Stock Up 1.2 %

Shares of Globant stock opened at $130.75 on Friday. Globant S.A. has a 12-month low of $124.53 and a 12-month high of $238.32. The firm has a market cap of $5.76 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. The company’s fifty day simple moving average is $183.20 and its two-hundred day simple moving average is $202.90.

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

About Globant

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.