WCM Investment Management LLC Cuts Stake in Globant S.A. (NYSE:GLOB)

WCM Investment Management LLC cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 43.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 162,744 shares of the information technology services provider’s stock after selling 123,965 shares during the period. WCM Investment Management LLC’s holdings in Globant were worth $35,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLOB. Equitable Trust Co. boosted its position in Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Globant by 3.8% in the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after acquiring an additional 71 shares during the period. ORG Partners LLC lifted its position in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the period. Finally, Signaturefd LLC boosted its holdings in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

GLOB has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Scotiabank raised their price target on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Susquehanna began coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price on the stock. Finally, UBS Group lowered their price target on Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.28.

Globant Trading Up 0.2 %

Globant stock opened at $217.64 on Friday. The stock has a market cap of $9.38 billion, a P/E ratio of 56.83, a PEG ratio of 2.46 and a beta of 1.39. The company has a 50-day moving average price of $216.10 and a 200 day moving average price of $209.14. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $245.81.

Globant Company 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.