Globant S.A. (NYSE:GLOB) Shares Sold by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd cut its position in Globant S.A. (NYSE:GLOB) by 7.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 102,889 shares of the information technology services provider’s stock after selling 8,370 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Globant were worth $20,327,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Seven Eight Capital LP purchased a new position in Globant in the first quarter valued at $2,138,000. Vanguard Group Inc. grew its stake in Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares in the last quarter. Cetera Investment Advisers grew its stake in Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after purchasing an additional 18,433 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Globant by 14.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 42,584 shares of the information technology services provider’s stock worth $8,598,000 after purchasing an additional 5,441 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Globant by 97.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock worth $27,548,000 after purchasing an additional 76,256 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GLOB shares. UBS Group reissued a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Jefferies Financial Group upped their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Citigroup upped their price objective on Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Globant Stock Up 0.2 %

GLOB traded up $0.51 on Monday, hitting $224.18. 201,623 shares of the company traded hands, compared to its average volume of 486,021. The company has a 50 day moving average of $200.11 and a 200-day moving average of $186.44. The stock has a market capitalization of $9.66 billion, a PE ratio of 58.71, a PEG ratio of 2.61 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. On average, research analysts anticipate that Globant S.A. will post 5.02 EPS 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.