Parkside Financial Bank & Trust Cuts Stock Holdings in Globant S.A. (NYSE:GLOB)

Parkside Financial Bank & Trust decreased its holdings in shares of Globant S.A. (NYSE:GLOB) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,858 shares of the information technology services provider’s stock after selling 202 shares during the period. Parkside Financial Bank & Trust’s holdings in Globant were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GLOB. Creative Planning boosted its stake in Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after buying an additional 351 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Globant in the third quarter worth approximately $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after buying an additional 8,427 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after buying an additional 16,639 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Globant by 32.1% in the third quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock worth $40,447,000 after buying an additional 49,597 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Up 1.5 %

Shares of GLOB stock opened at $150.29 on Friday. The stock has a fifty day moving average of $207.17 and a 200 day moving average of $209.47. Globant S.A. has a 52 week low of $145.42 and a 52 week high of $238.32. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 40.40, a PEG ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last announced 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 business had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Equities research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and upped their target price for the stock from $140.00 to $150.00 in a research note on Tuesday. UBS Group lowered their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday. Scotiabank cut their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Piper Sandler cut their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

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.