SYSTM Wealth Solutions LLC Sells 968 Shares of Globant S.A. (NYSE:GLOB)

SYSTM Wealth Solutions LLC lowered its position in shares of Globant S.A. (NYSE:GLOB) by 73.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 341 shares of the information technology services provider’s stock after selling 968 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Globant were worth $61,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Globant during the 4th quarter worth about $306,000. Charles Schwab Investment Management Inc. grew its position in shares of Globant by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock worth $9,988,000 after buying an additional 2,470 shares during the period. Principal Securities Inc. acquired a new stake in shares of Globant during the 4th quarter worth approximately $56,000. Dimensional Fund Advisors LP raised its stake in shares of Globant by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock worth $65,135,000 after buying an additional 7,226 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Globant by 5.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock valued at $428,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

NYSE:GLOB opened at $193.71 on Friday. The stock has a 50-day simple moving average of $195.44 and a 200 day simple moving average of $187.33. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The company has a market cap of $8.35 billion, a PE ratio of 50.84, a PEG ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $587.46 million during 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 business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $1.04 EPS. On average, research analysts predict that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on GLOB. Citigroup lifted their target price on shares of Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 12th. The Goldman Sachs Group began coverage on Globant in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. KeyCorp increased their target price on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Needham & Company LLC boosted their target price on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.