WCM Investment Management LLC Has $35.37 Million Stock Position in Globant S.A. (NYSE:GLOB)

WCM Investment Management LLC lowered its stake in Globant S.A. (NYSE:GLOB - Free Report) by 43.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 162,744 shares of the information technology services provider's stock after selling 123,965 shares during the quarter. WCM Investment Management LLC owned 0.38% of Globant worth $35,369,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in shares of Globant by 20.5% during the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider's stock worth $409,000 after buying an additional 351 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Globant during the third quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Globant by 18.6% during the 3rd 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 valued at $10,663,000 after acquiring an additional 8,427 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Globant by 121.3% in the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock worth $6,014,000 after purchasing an additional 16,639 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Globant by 32.1% during 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 currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLOB has been the topic of several analyst reports. TD Cowen lifted their price target on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price target on Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Susquehanna initiated 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. Piper Sandler lowered their target price on shares of Globant from $240.00 to $237.00 and set an "overweight" rating for the company in a research note on Friday, November 15th. Finally, StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a research report on Sunday, November 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $230.28.

Globant Price Performance

GLOB traded up $2.69 during trading on Wednesday, hitting $218.58. The company's stock had a trading volume of 420,701 shares, compared to its average volume of 443,549. The stock has a market cap of $9.42 billion, a PE ratio of 57.07, a PEG ratio of 2.46 and a beta of 1.39. The firm's 50 day moving average price is $215.78 and its 200-day moving average price is $209.69. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $243.35.

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.