Johnson Investment Counsel Inc. Reduces Position in Globant S.A. (NYSE:GLOB)

Johnson Investment Counsel Inc. cut its position in Globant S.A. (NYSE:GLOB) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,802 shares of the information technology services provider’s stock after selling 2,207 shares during the period. Johnson Investment Counsel Inc.’s holdings in Globant were worth $2,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GLOB. Centricity Wealth Management LLC purchased a new position in shares of Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC purchased a new position in shares of Globant in the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant in the 3rd quarter valued at $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant in the 4th quarter valued at $45,000. Finally, Promus Capital LLC purchased a new position in shares of Globant in the 4th quarter valued at $64,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Down 6.1 %

Shares of GLOB opened at $131.81 on Tuesday. The company has a 50-day simple moving average of $197.90 and a 200-day simple moving average of $207.20. The company has a market capitalization of $5.80 billion, a PE ratio of 35.43, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 52-week low of $130.06 and a 52-week high of $238.32.

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

Analysts Set New Price Targets

A number of research analysts recently commented on GLOB shares. Jefferies Financial Group increased their target price on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Canaccord Genuity Group decreased their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. Needham & Company LLC decreased their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price 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.