Grandeur Peak Global Advisors LLC reduced its holdings in shares of Globant SA (NYSE:GLOB) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 463,675 shares of the information technology services provider’s stock after selling 10,450 shares during the period. Globant comprises 2.8% of Grandeur Peak Global Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Grandeur Peak Global Advisors LLC owned approximately 1.32% of Globant worth $21,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Group Inc. purchased a new stake in Globant during the 3rd quarter worth approximately $141,000. SG Americas Securities LLC acquired a new position in Globant during the 4th quarter worth approximately $172,000. Bell Bank acquired a new position in Globant during the 3rd quarter worth approximately $239,000. California Public Employees Retirement System acquired a new position in Globant during the 4th quarter worth approximately $287,000. Finally, Quantbot Technologies LP acquired a new position in Globant during the 3rd quarter worth approximately $270,000. 68.19% of the stock is currently owned by hedge funds and other institutional investors.

Globant stock opened at $51.96 on Thursday. Globant SA has a twelve month low of $33.56 and a twelve month high of $54.84. The company has a market cap of $1,882.41, a P/E ratio of 61.64 and a beta of 0.51.

GLOB has been the subject of several analyst reports. Zacks Investment Research cut shares of Globant from a “buy” rating to a “hold” rating in a report on Monday, February 26th. SunTrust Banks boosted their price target on shares of Globant to $52.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. They noted that the move was a valuation call. ValuEngine cut shares of Globant from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $54.00 price target (up previously from $50.00) on shares of Globant in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.57.

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About Globant

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.

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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