Bank of New York Mellon Corp Lowers Stake in Globant S.A. (NYSE:GLOB)

Bank of New York Mellon Corp lessened its holdings in Globant S.A. (NYSE:GLOB) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 238,816 shares of the information technology services provider’s stock after selling 463 shares during the quarter. Bank of New York Mellon Corp owned 0.55% of Globant worth $51,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC bought a new position in shares of Globant during the fourth quarter valued at about $38,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant during the fourth quarter valued at approximately $45,000. Flossbach Von Storch SE lifted its position in Globant by 6.1% during the fourth quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider’s stock valued at $3,752,000 after purchasing an additional 1,000 shares during the period. Kestra Investment Management LLC bought a new position in Globant during the fourth quarter valued at approximately $38,000. Finally, Truist Financial Corp raised its position in Globant by 2.6% in the fourth quarter. Truist Financial Corp now owns 21,703 shares of the information technology services provider’s stock worth $4,654,000 after acquiring an additional 557 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Up 0.6 %

Shares of NYSE GLOB opened at $147.07 on Thursday. Globant S.A. has a 12 month low of $140.88 and a 12 month high of $238.32. The company has a 50 day simple moving average of $202.74 and a two-hundred day simple moving average of $208.54. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its 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 net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several recent research reports. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Susquehanna started coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price for the company. Needham & Company LLC lowered their target price on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. Scotiabank decreased their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Finally, Canaccord Genuity Group reduced their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.39.

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.