GUARDCAP ASSET MANAGEMENT Ltd Lowers Stock Position in Globant S.A. (NYSE:GLOB)

GUARDCAP ASSET MANAGEMENT Ltd lessened its stake in Globant S.A. (NYSE:GLOB) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,011 shares of the information technology services provider’s stock after selling 449 shares during the quarter. Globant accounts for 0.0% of GUARDCAP ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 22nd largest position. GUARDCAP ASSET MANAGEMENT Ltd’s holdings in Globant were worth $2,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its holdings in shares of Globant by 30.4% in the 3rd quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock valued at $2,669,000 after purchasing an additional 3,142 shares during the last quarter. Cerity Partners LLC boosted its position in Globant by 31.0% in the 3rd quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider’s stock valued at $2,977,000 after buying an additional 3,556 shares during the last quarter. Fisher Asset Management LLC grew its stake in Globant by 5.1% during the 3rd quarter. Fisher Asset Management LLC now owns 27,591 shares of the information technology services provider’s stock valued at $5,467,000 after purchasing an additional 1,343 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Globant during the third quarter worth approximately $8,445,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of Globant by 32.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock worth $40,447,000 after purchasing an additional 49,597 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

GLOB stock opened at $130.75 on Friday. The business has a fifty day moving average price of $183.20 and a 200 day moving average price of $202.90. Globant S.A. has a fifty-two week low of $124.53 and a fifty-two week high of $238.32. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, equities analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLOB. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Canaccord Genuity Group decreased their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Finally, UBS Group reduced their target price on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and a consensus price target of $219.71.

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.