Charles Schwab Investment Management Inc. Decreases Stock Holdings in Globant S.A. (NYSE:GLOB)

Charles Schwab Investment Management Inc. cut its stake in Globant S.A. (NYSE:GLOB) by 31.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,062 shares of the information technology services provider’s stock after selling 8,798 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Globant were worth $4,087,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. LGT Group Foundation purchased a new stake in Globant during the 4th quarter valued at about $1,583,000. GW&K Investment Management LLC raised its position in shares of Globant by 0.4% during the 4th quarter. GW&K Investment Management LLC now owns 371,595 shares of the information technology services provider’s stock valued at $79,678,000 after purchasing an additional 1,645 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Globant during the fourth quarter worth about $38,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant in the fourth quarter worth $45,000. Finally, Flossbach Von Storch SE lifted its position in shares of Globant by 6.1% in the fourth quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider’s stock worth $3,752,000 after buying an additional 1,000 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group lifted their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. UBS Group reduced their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.71.

Globant Trading Down 1.9 %

NYSE GLOB opened at $127.46 on Thursday. The stock has a fifty day simple moving average of $178.31 and a 200-day simple moving average of $201.45. Globant S.A. has a twelve month low of $124.53 and a twelve month high of $238.32. The stock has a market cap of $5.61 billion, a PE ratio of 34.26, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 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 business had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Research analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Globant Company 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.