First Trust Direct Indexing L.P. Decreases Stake in Globant S.A. (NYSE:GLOB)

First Trust Direct Indexing L.P. decreased its holdings in shares of Globant S.A. (NYSE:GLOB) by 34.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 982 shares of the information technology services provider’s stock after selling 513 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Globant were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. CI Investments Inc. grew its position in shares of Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC purchased a new position in Globant during the fourth quarter worth about $68,000. CWM LLC increased its stake in Globant by 13.5% in the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock worth $136,000 after acquiring an additional 68 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Globant by 68,900.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock valued at $164,000 after acquiring an additional 689 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new stake in shares of Globant during the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp lifted their target price on shares of Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Piper Sandler increased their target price on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. dropped their price target on Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. HSBC reduced their price objective on Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC upped their target price on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant has an average rating of “Moderate Buy” and an average target price of $244.35.

Globant Stock Up 1.6 %

Shares of Globant stock opened at $193.91 on Wednesday. The company has a market cap of $8.36 billion, a PE ratio of 53.42, a P/E/G ratio of 1.40 and a beta of 1.35. The business has a 50 day moving average of $198.64 and a 200 day moving average of $211.93. Globant S.A. has a 52 week low of $135.40 and a 52 week high of $251.50.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The company had revenue of $580.71 million during the quarter, compared to analysts’ expectations of $579.70 million. On average, research analysts anticipate that Globant S.A. will post 5.03 earnings per share for the current year.

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.