Williamson Legacy Group LLC Cuts Holdings in Globant S.A. (NYSE:GLOB)

Williamson Legacy Group LLC cut its position in shares of Globant S.A. (NYSE:GLOB) by 4.3% during the 4th quarter, Holdings Channel reports. The firm owned 4,321 shares of the information technology services provider’s stock after selling 194 shares during the quarter. Williamson Legacy Group LLC’s holdings in Globant were worth $927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after acquiring an additional 1,431,112 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after acquiring an additional 153,385 shares during the last quarter. abrdn plc boosted its stake in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after acquiring an additional 126,333 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after acquiring an additional 95,848 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after acquiring an additional 88,829 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group upped their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Scotiabank dropped their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Canaccord Genuity Group dropped their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Finally, Susquehanna started coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.39.

Globant Trading Up 1.5 %

Globant stock opened at $150.29 on Friday. The firm’s 50 day simple moving average is $207.17 and its 200 day simple moving average is $209.47. The firm has a market capitalization of $6.48 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. Globant S.A. has a 1-year low of $145.42 and a 1-year high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 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 the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Research analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

Globant 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.