California Public Employees Retirement System Sells 5,822 Shares of Globant S.A. (NYSE:GLOB)

California Public Employees Retirement System cut its stake in shares of Globant S.A. (NYSE:GLOBGet Rating) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 79,173 shares of the information technology services provider’s stock after selling 5,822 shares during the quarter. California Public Employees Retirement System’s holdings in Globant were worth $13,776,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Globant by 50.9% during the first quarter. JPMorgan Chase & Co. now owns 1,907,474 shares of the information technology services provider’s stock valued at $499,893,000 after purchasing an additional 643,022 shares during the last quarter. Sands Capital Management LLC boosted its position in Globant by 8.3% during the first quarter. Sands Capital Management LLC now owns 1,341,415 shares of the information technology services provider’s stock valued at $351,545,000 after purchasing an additional 103,265 shares during the last quarter. William Blair Investment Management LLC boosted its position in Globant by 1.2% during the second quarter. William Blair Investment Management LLC now owns 1,289,021 shares of the information technology services provider’s stock valued at $224,290,000 after purchasing an additional 15,178 shares during the last quarter. Jennison Associates LLC boosted its position in Globant by 7.4% during the first quarter. Jennison Associates LLC now owns 1,276,485 shares of the information technology services provider’s stock valued at $334,528,000 after purchasing an additional 87,562 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Globant by 5.5% in the first quarter. Invesco Ltd. now owns 1,232,195 shares of the information technology services provider’s stock valued at $322,920,000 after buying an additional 64,161 shares during the last quarter. 88.96% of the stock is owned by institutional investors and hedge funds.

Globant Trading Down 4.0 %

Shares of NYSE GLOB opened at $174.25 on Monday. The firm has a market cap of $7.30 billion, a P/E ratio of 53.62 and a beta of 1.41. Globant S.A. has a 1-year low of $155.01 and a 1-year high of $324.29. The business’s 50 day moving average is $186.81 and its 200-day moving average is $193.68.

Globant (NYSE:GLOBGet Rating) last posted its quarterly earnings data on Thursday, August 18th. The information technology services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. Globant had a return on equity of 11.93% and a net margin of 8.31%. The firm had revenue of $429.30 million for the quarter, compared to analyst estimates of $426.22 million. During the same quarter last year, the company earned $0.71 EPS. The company’s revenue was up 40.6% on a year-over-year basis. Analysts forecast that Globant S.A. will post 4.14 EPS for the current year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of recent analyst reports. Cowen cut their price objective on Globant from $210.00 to $207.00 in a research report on Friday. StockNews.com initiated coverage on Globant in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Cowen cut their price objective on Globant from $210.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday. Piper Sandler lowered their target price on Globant from $249.00 to $219.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. Finally, The Goldman Sachs Group lowered their target price on Globant from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, September 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Globant Profile

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

See Also

Want to see what other hedge funds are holding GLOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globant S.A. (NYSE:GLOBGet Rating).

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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