Globant S.A. (NYSE:GLOB) is Martin Currie Ltd.’s 9th Largest Position

Martin Currie Ltd. reduced its stake in Globant S.A. (NYSE:GLOB) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 397,309 shares of the information technology services provider’s stock after selling 9,647 shares during the period. Globant accounts for about 3.1% of Martin Currie Ltd.’s holdings, making the stock its 9th biggest position. Martin Currie Ltd.’s holdings in Globant were worth $85,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its holdings in shares of Globant by 2.6% in the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after buying an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after purchasing an additional 96,257 shares during the period. Jennison Associates LLC grew its stake in Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after buying an additional 4,970 shares during the last quarter. Finally, Sei Investments Co. increased its position in Globant by 3.5% during the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock worth $129,252,000 after buying an additional 20,365 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the topic of a number of research reports. UBS Group lowered their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Susquehanna began coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and boosted their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Scotiabank decreased their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Finally, Jefferies Financial Group boosted their target price on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.71.

Globant Trading Down 6.3 %

Shares of GLOB opened at $118.48 on Friday. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32. The stock has a market cap of $5.22 billion, a P/E ratio of 31.85, a PEG ratio of 2.38 and a beta of 1.47. The company has a 50-day moving average of $174.61 and a two-hundred day moving average of $200.39.

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 analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.