DekaBank Deutsche Girozentrale Sells 7,550 Shares of Globant S.A. (NYSE:GLOB)

DekaBank Deutsche Girozentrale cut its holdings in Globant S.A. (NYSE:GLOB) by 76.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,350 shares of the information technology services provider’s stock after selling 7,550 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Globant were worth $420,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in Globant by 6.8% during the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after buying an additional 213,049 shares during the period. Capital International Investors raised its stake in shares of Globant by 0.5% in the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Globant in the 2nd quarter worth about $99,396,000. Norges Bank bought a new stake in shares of Globant in the 4th quarter worth about $114,922,000. Finally, Martin Currie Ltd. boosted its stake in shares of Globant by 31.8% during the 4th quarter. Martin Currie Ltd. now owns 478,254 shares of the information technology services provider’s stock worth $113,815,000 after purchasing an additional 115,360 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB stock opened at $189.06 on Friday. The stock’s 50-day moving average is $195.34 and its 200 day moving average is $187.12. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50. The company has a market cap of $8.15 billion, a P/E ratio of 49.62, a PEG ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business earned $1.04 EPS. On average, analysts anticipate that Globant S.A. will post 5.01 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on GLOB shares. UBS Group reissued a “neutral” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target for the company. Citigroup upped their price objective on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, KeyCorp upped their price target on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.90.

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.