WCM Investment Management LLC Sells 123,965 Shares of Globant S.A. (NYSE:GLOB)

WCM Investment Management LLC lessened its position in shares of Globant S.A. (NYSE:GLOB) by 43.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,744 shares of the information technology services provider’s stock after selling 123,965 shares during the quarter. WCM Investment Management LLC owned 0.38% of Globant worth $35,369,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GLOB. Creative Planning increased its position 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 position in Globant during the third quarter valued at approximately $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 purchasing an additional 8,427 shares during the period. Principal Financial Group Inc. boosted its holdings in Globant by 121.3% in the 3rd 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 during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in Globant by 32.1% in the 3rd 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 during the period. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GLOB. JPMorgan Chase & Co. upped their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Scotiabank lifted their price target on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Finally, UBS Group decreased their price target on shares of Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.28.

Globant Price Performance

Globant stock opened at $217.64 on Friday. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 56.83, a price-to-earnings-growth ratio of 2.46 and a beta of 1.39. The firm has a 50-day moving average of $216.10 and a two-hundred day moving average of $209.14. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $245.81.

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.