WCM Investment Management LLC Has $56.67 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

WCM Investment Management LLC decreased its stake in Globant S.A. (NYSE:GLOB - Free Report) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 286,709 shares of the information technology services provider's stock after selling 95,192 shares during the period. WCM Investment Management LLC owned 0.67% of Globant worth $56,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BOKF NA boosted its holdings in shares of Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 158 shares during the period. Quarry LP lifted its position in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 143 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Globant during the 2nd quarter valued at about $31,000. ORG Partners LLC grew its position in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 76 shares during the last quarter. Finally, American National Bank & Trust increased its stake in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Trading Up 1.1 %

NYSE:GLOB traded up $2.66 during trading hours on Monday, hitting $234.02. 274,788 shares of the stock traded hands, compared to its average volume of 477,775. The firm has a 50 day moving average price of $206.06 and a 200 day moving average price of $189.52. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 60.41, a PEG ratio of 2.84 and a beta of 1.39. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. Research analysts predict that Globant S.A. will post 5.06 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GLOB shares. TD Cowen increased their price objective on Globant from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, August 16th. Scotiabank increased their price target on Globant from $200.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 21st. UBS Group reissued a "neutral" rating and set a $235.00 price target (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Piper Sandler reaffirmed an "overweight" rating and issued a $240.00 price objective (up previously from $238.00) on shares of Globant in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $227.00.

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.