Johnson Investment Counsel Inc. Reduces Holdings in Globant S.A. (NYSE:GLOB)

Johnson Investment Counsel Inc. reduced its holdings in shares of Globant S.A. (NYSE:GLOB) by 13.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,802 shares of the information technology services provider’s stock after selling 2,207 shares during the period. Johnson Investment Counsel Inc.’s holdings in Globant were worth $2,959,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Globant by 25.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,370 shares of the information technology services provider’s stock valued at $15,089,000 after acquiring an additional 14,122 shares in the last quarter. Amundi increased its holdings in Globant by 209.2% during the 4th quarter. Amundi now owns 2,718 shares of the information technology services provider’s stock valued at $580,000 after acquiring an additional 1,839 shares in the last quarter. NS Partners Ltd purchased a new position in Globant during the 4th quarter valued at about $18,933,000. PNC Financial Services Group Inc. increased its holdings in Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock valued at $1,032,000 after acquiring an additional 118 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its holdings in shares of Globant by 19.2% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,227 shares of the information technology services provider’s stock worth $263,000 after buying an additional 198 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GLOB. TD Cowen lifted their price target on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Needham & Company LLC lowered their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. Scotiabank lowered their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Finally, Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Stock Down 6.1 %

Shares of GLOB stock opened at $131.81 on Tuesday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a fifty-two week low of $130.06 and a fifty-two week high of $238.32. The firm’s 50 day moving average price is $197.90 and its two-hundred day moving average price is $207.20.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, equities analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal 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.