Globant S.A. (NYSE:GLOB) is Wasatch Advisors Inc.’s Largest Position

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Wasatch Advisors Inc. reduced its stake in Globant S.A. (NYSE:GLOB) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,184,323 shares of the information technology services provider’s stock after selling 241,104 shares during the quarter. Globant makes up approximately 2.5% of Wasatch Advisors Inc.’s investment portfolio, making the stock its largest position. Wasatch Advisors Inc. owned about 0.06% of Globant worth $391,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GLOB. Ropes Wealth Advisors LLC purchased a new position in shares of Globant during the 3rd quarter worth $29,000. CWM LLC purchased a new position in shares of Globant during the 3rd quarter worth $33,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Globant during the 3rd quarter worth $44,000. Signaturefd LLC purchased a new position in shares of Globant during the 2nd quarter worth $45,000. Finally, IFP Advisors Inc lifted its stake in Globant by 1,104.0% during the 3rd quarter. IFP Advisors Inc now owns 301 shares of the information technology services provider’s stock worth $51,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Several equities analysts recently issued reports on GLOB shares. TheStreet lowered Globant from a “b” rating to a “c+” rating in a research note on Monday, November 16th. Itau BBA Securities raised Globant from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a research note on Monday, September 21st. Piper Sandler increased their target price on Globant from $181.00 to $193.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their target price on Globant from $179.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, ValuEngine raised Globant from a “hold” rating to a “buy” rating in a research note on Wednesday, October 14th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $159.50.

NYSE:GLOB traded up $0.76 during mid-day trading on Friday, reaching $188.39. 182,438 shares of the stock were exchanged, compared to its average volume of 347,712. The company has a 50 day simple moving average of $191.48 and a 200-day simple moving average of $165.81. The stock has a market capitalization of $6.99 billion, a P/E ratio of 138.52 and a beta of 1.31. The company has a quick ratio of 2.56, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Globant S.A. has a 1 year low of $70.83 and a 1 year high of $210.88.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 12th. The information technology services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $207.22 million for the quarter, compared to the consensus estimate of $203.76 million. Globant had a return on equity of 13.17% and a net margin of 7.09%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. As a group, research analysts predict that Globant S.A. will post 1.75 EPS for the current year.

Globant Profile

Globant SA operates as a technology services company worldwide. The company offers machine learning, pattern recognition, and natural language understanding services. It also provides process appraisal, automated, process evolution, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, consultancy, fast prototyping, app evolution, platform integration, and hardware integration services.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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