abrdn plc Trims Position in Globant S.A. (NYSE:GLOB)

abrdn plc lessened its holdings in shares of Globant S.A. (NYSE:GLOB) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 594,640 shares of the information technology services provider’s stock after selling 18,769 shares during the quarter. abrdn plc’s holdings in Globant were worth $141,512,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Beaumont Financial Advisors LLC purchased a new position in shares of Globant during the 4th quarter worth $201,000. Calamos Advisors LLC purchased a new position in shares of Globant during the 4th quarter worth $719,000. Federated Hermes Inc. lifted its stake in shares of Globant by 20.0% during the 4th quarter. Federated Hermes Inc. now owns 12,000 shares of the information technology services provider’s stock worth $2,856,000 after purchasing an additional 2,000 shares during the period. Flossbach Von Storch AG increased its holdings in shares of Globant by 25.0% during the 4th quarter. Flossbach Von Storch AG now owns 15,000 shares of the information technology services provider’s stock worth $3,570,000 after buying an additional 3,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Globant by 68,900.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock worth $164,000 after buying an additional 689 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 0.1 %

NYSE:GLOB traded down $0.23 on Friday, reaching $179.29. The stock had a trading volume of 317,557 shares, compared to its average volume of 387,905. The company has a 50-day moving average of $209.46 and a 200 day moving average of $212.55. The stock has a market cap of $7.73 billion, a P/E ratio of 49.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.35. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to analysts’ expectations of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. On average, equities analysts predict that Globant S.A. will post 5.03 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GLOB. KeyCorp upped their price objective on Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Needham & Company LLC upped their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Citigroup upped their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. HSBC dropped their price objective on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, Wedbush restated an “outperform” rating and set a $250.00 price objective on shares of Globant in a report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.59.

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.