Comgest Global Investors S.A.S. Has $40.82 Million Position in Globant S.A. (NYSE:GLOB)

Comgest Global Investors S.A.S. lowered its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 10.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 190,390 shares of the information technology services provider's stock after selling 22,019 shares during the quarter. Globant comprises approximately 0.7% of Comgest Global Investors S.A.S.'s holdings, making the stock its 26th largest holding. Comgest Global Investors S.A.S. owned approximately 0.44% of Globant worth $40,823,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Globant during the fourth quarter worth about $16,737,000. Cullen Frost Bankers Inc. increased its position in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after buying an additional 2,505 shares during the period. JPMorgan Chase & Co. lifted its stake in Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock valued at $551,506,000 after buying an additional 203,472 shares during the last quarter. NS Partners Ltd acquired a new position in shares of Globant during the fourth quarter valued at $18,933,000. Finally, Segall Bryant & Hamill LLC grew its position in shares of Globant by 364.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider's stock worth $25,315,000 after acquiring an additional 92,661 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. StockNews.com lowered Globant from a "hold" rating to a "sell" rating in a report on Monday. Piper Sandler cut their target price on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a research note on Wednesday. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Scotiabank lowered their price target on Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $209.94.

Globant Stock Down 0.8 %

Globant stock traded down $0.90 during mid-day trading on Friday, hitting $105.69. The company's stock had a trading volume of 401,366 shares, compared to its average volume of 595,228. The stock has a market capitalization of $4.65 billion, a P/E ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32. The stock's fifty day moving average price is $141.44 and its two-hundred day moving average price is $190.63.

Globant (NYSE:GLOB - Get Free Report) last issued 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 analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Equities analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

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.