Williamson Legacy Group LLC Sells 194 Shares of Globant S.A. (NYSE:GLOB)

Williamson Legacy Group LLC trimmed its position in Globant S.A. (NYSE:GLOB) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,321 shares of the information technology services provider’s stock after selling 194 shares during the quarter. Williamson Legacy Group LLC’s holdings in Globant were worth $927,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Equitable Trust Co. lifted its holdings in shares of Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 50 shares during the period. M&T Bank Corp lifted its holdings in shares of Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after purchasing an additional 71 shares during the period. National Bank of Canada FI lifted its holdings in shares of Globant by 3.3% during the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after purchasing an additional 122 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Globant by 62.4% during the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 153 shares during the period. 91.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group cut their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and boosted their target price for the company from $140.00 to $150.00 in a report on Tuesday. 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. TD Cowen boosted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group dropped their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $221.39.

Globant Price Performance

NYSE:GLOB opened at $150.29 on Friday. The firm has a 50-day moving average of $207.17 and a 200-day moving average of $209.47. The company has a market cap of $6.48 billion, a PE ratio of 40.40, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a one year low of $145.42 and a one year high of $238.32.

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

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.