New York State Common Retirement Fund Sells 2,000 Shares of Globant S.A. (NYSE:GLOB)

New York State Common Retirement Fund reduced its stake in Globant S.A. (NYSE:GLOB) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,710 shares of the information technology services provider’s stock after selling 2,000 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of Globant worth $15,805,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GLOB. Kestra Investment Management LLC bought a new stake in Globant during the fourth quarter valued at $38,000. Truist Financial Corp boosted its holdings in Globant by 2.6% in the fourth quarter. Truist Financial Corp now owns 21,703 shares of the information technology services provider’s stock worth $4,654,000 after acquiring an additional 557 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after acquiring an additional 95,848 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Globant during the fourth quarter worth approximately $249,000. Finally, PUREfi Wealth LLC bought a new position in shares of Globant in the 4th quarter worth $205,000. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

Shares of NYSE GLOB opened at $152.02 on Monday. The stock has a market capitalization of $6.55 billion, a PE ratio of 40.86, a P/E/G ratio of 2.38 and a beta of 1.39. Globant S.A. has a one year low of $151.38 and a one year high of $238.32. The business’s fifty day moving average price is $214.07 and its 200-day moving average price is $210.79.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 6.86% and a return on equity of 11.83%. As a group, equities analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Jefferies Financial Group upped their target price on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Citigroup boosted their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. TD Cowen raised their target price on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.06.

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.