Nuveen Asset Management LLC trimmed its holdings in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 6.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 144,542 shares of the information technology services provider’s stock after selling 10,374 shares during the period. Nuveen Asset Management LLC owned 0.35% of Globant worth $27,040,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of GLOB. IFP Advisors Inc raised its holdings in shares of Globant by 1,068.8% during the third quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 171 shares during the period. Van ECK Associates Corp raised its holdings in shares of Globant by 1,729.4% during the third quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 294 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Globant in the 1st quarter worth about $72,000. Huntington National Bank increased its holdings in shares of Globant by 60.0% in the 3rd quarter. Huntington National Bank now owns 416 shares of the information technology services provider’s stock worth $78,000 after acquiring an additional 156 shares during the period. Finally, CWM LLC increased its holdings in shares of Globant by 18.7% in the 3rd quarter. CWM LLC now owns 458 shares of the information technology services provider’s stock worth $86,000 after acquiring an additional 72 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. HSBC assumed coverage on shares of Globant in a report on Thursday, February 2nd. They issued a “buy” rating and a $240.00 price objective on the stock. Piper Sandler boosted their price target on Globant from $198.00 to $204.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. KeyCorp lowered their price target on Globant from $291.00 to $232.00 and set an “overweight” rating on the stock in a report on Friday, November 18th. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $224.00 to $221.00 and set an “overweight” rating for the company in a report on Tuesday, February 14th. Finally, Cowen lowered their target price on shares of Globant from $207.00 to $192.00 in a research note on Friday, February 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $230.11.
Globant Price Performance
Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $490.72 million during the quarter, compared to the consensus estimate of $489.67 million. Globant had a net margin of 8.36% and a return on equity of 12.09%. On average, analysts anticipate that Globant S.A. will post 4.63 earnings per share for the current year.
Globant Company Profile
Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.
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