Schroder Investment Management Group Decreases Stock Position in Globant S.A. (NYSE:GLOB)

Schroder Investment Management Group lowered its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 663,533 shares of the information technology services provider's stock after selling 26,427 shares during the quarter. Schroder Investment Management Group owned about 1.54% of Globant worth $142,275,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cerity Partners LLC boosted its holdings in shares of Globant by 31.0% during the 3rd quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider's stock worth $2,977,000 after buying an additional 3,556 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Globant by 48.9% during the 3rd quarter. Bank of Montreal Can now owns 21,642 shares of the information technology services provider's stock valued at $4,278,000 after acquiring an additional 7,110 shares during the period. Townsquare Capital LLC boosted its stake in Globant by 15.4% during the third quarter. Townsquare Capital LLC now owns 5,878 shares of the information technology services provider's stock worth $1,165,000 after acquiring an additional 784 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Globant during the third quarter worth $11,145,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider's stock worth $10,663,000 after purchasing an additional 8,427 shares during the period. Institutional investors own 91.60% of the company's stock.

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Globant Stock Performance

Shares of Globant stock traded down $4.92 during mid-day trading on Friday, hitting $100.14. 1,641,770 shares of the stock were exchanged, compared to its average volume of 572,090. Globant S.A. has a 12 month low of $96.93 and a 12 month high of $238.32. The company has a 50-day simple moving average of $164.90 and a 200 day simple moving average of $197.37. The company has a market capitalization of $4.41 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. Analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com cut shares of Globant from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. UBS Group cut their price target on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Scotiabank decreased their price objective on Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. Canaccord Genuity Group cut their target price on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. Finally, Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.56.

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.