Global X Management Co. LLC Buys 25,303 Shares of Globant S.A. (GLOB)
Global X Management Co. LLC increased its stake in Globant S.A. (NYSE:GLOB) by 25.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,240 shares of the information technology services provider’s stock after buying an additional 25,303 shares during the period. Global X Management Co. LLC’s holdings in Globant were worth $5,484,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of GLOB. Bank of Montreal Can increased its stake in shares of Globant by 1,002.4% in the second quarter. Bank of Montreal Can now owns 2,337 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 2,125 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Globant during the second quarter valued at $205,000. Bank of America Corp DE increased its stake in shares of Globant by 34.5% in the first quarter. Bank of America Corp DE now owns 5,153 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 1,321 shares in the last quarter. US Bancorp DE increased its stake in shares of Globant by 1,461.5% in the second quarter. US Bancorp DE now owns 6,808 shares of the information technology services provider’s stock valued at $296,000 after buying an additional 6,372 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Globant during the first quarter valued at $277,000. 74.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Globant S.A. (GLOB) opened at 42.96 on Friday. The firm has a 50-day moving average price of $43.58 and a 200-day moving average price of $38.57. The firm has a market cap of $1.49 billion, a P/E ratio of 41.71 and a beta of 0.85. Globant S.A. has a 12-month low of $30.90 and a 12-month high of $47.51.
Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, May 18th. The information technology services provider reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. The firm had revenue of $88.74 million during the quarter, compared to the consensus estimate of $87.63 million. Globant had a return on equity of 18.60% and a net margin of 11.13%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. On average, equities research analysts expect that Globant S.A. will post $1.27 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the company. BidaskClub raised Globant from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. downgraded Globant from a “buy” rating to a “hold” rating and increased their price target for the stock from $43.00 to $48.00 in a report on Thursday, July 27th. They noted that the move was a valuation call. Citigroup Inc. increased their price target on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $36.00 price target on shares of Globant in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Globant presently has a consensus rating of “Hold” and an average target price of $43.86.
Globant Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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