Artisan Partners Limited Partnership Has $23.27 Million Position in Globant S.A. (NYSE:GLOB)

Artisan Partners Limited Partnership lessened its stake in Globant S.A. (NYSE:GLOB) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,541 shares of the information technology services provider’s stock after selling 26,241 shares during the period. Artisan Partners Limited Partnership owned about 0.25% of Globant worth $23,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC acquired a new stake in shares of Globant during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new position in Globant in the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB bought a new position in Globant during the third quarter worth about $40,000. Van Berkom & Associates Inc. acquired a new stake in Globant during the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new stake in shares of Globant in the 4th quarter valued at approximately $64,000. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

Shares of NYSE:GLOB opened at $118.48 on Friday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. The company has a 50 day moving average of $174.61 and a 200-day moving average of $200.38. Globant S.A. has a one year low of $117.61 and a one year high of $238.32.

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

Analysts Set New Price Targets

Several research firms recently commented on GLOB. Canaccord Genuity Group cut their target price on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Jefferies Financial Group boosted their target price 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. UBS Group dropped their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and boosted their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Scotiabank dropped their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and an average price target of $219.71.

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.