Ramirez Asset Management Inc. Has $1.52 Million Stock Position in Globant S.A. (NYSE:GLOB)

Ramirez Asset Management Inc. cut its stake in Globant S.A. (NYSE:GLOB) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,070 shares of the information technology services provider’s stock after selling 132 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Globant were worth $1,516,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in shares of Globant during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC bought a new stake in Globant in the 4th quarter worth approximately $38,000. Wilmington Savings Fund Society FSB bought a new position in Globant during the 3rd quarter worth approximately $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant in the fourth quarter valued at about $45,000. Finally, Promus Capital LLC bought a new stake in shares of Globant in the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 0.7 %

Shares of NYSE GLOB opened at $126.49 on Friday. The stock has a fifty day simple moving average of $176.51 and a two-hundred day simple moving average of $200.93. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1-year low of $124.53 and a 1-year high of $238.32.

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 business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Canaccord Genuity Group cut their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. Susquehanna started coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. Finally, Piper Sandler lowered their target price on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $219.71.

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.