Blair William & Co. IL Sells 23,485 Shares of Globant S.A. (NYSE:GLOB)

Blair William & Co. IL lessened its position in shares of Globant S.A. (NYSE:GLOB) by 40.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,013 shares of the information technology services provider’s stock after selling 23,485 shares during the quarter. Blair William & Co. IL owned about 0.08% of Globant worth $6,241,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in shares of Globant in the 1st quarter valued at about $2,138,000. Vanguard Group Inc. boosted its stake in Globant by 7.9% in the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after acquiring an additional 8,267 shares during the last quarter. Cetera Investment Advisers grew its holdings in Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after acquiring an additional 18,433 shares during the period. Franklin Resources Inc. raised its position in shares of Globant by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after acquiring an additional 111 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Globant by 0.5% during the 4th 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 last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

NYSE GLOB opened at $189.06 on Friday. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The stock’s 50 day moving average price is $195.34 and its two-hundred day moving average price is $187.12. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts forecast that Globant S.A. will post 5.01 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on GLOB shares. Scotiabank lifted their price objective on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. TD Cowen upped their price target on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. UBS Group reissued a “neutral” rating and set a $235.00 price objective (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Redburn Atlantic assumed coverage on shares of Globant in a report on Friday, May 24th. They set a “sell” rating and a $135.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $222.90.

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.