Schwab Charles Investment Management Inc. boosted its stake in Globant S.A. (NYSE:GLOB) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,851 shares of the information technology services provider’s stock after buying an additional 100 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.11% of Globant worth $1,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLOB. Norges Bank purchased a new position in shares of Globant during the fourth quarter valued at about $4,825,000. Teachers Advisors LLC increased its position in shares of Globant by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 41,392 shares of the information technology services provider’s stock valued at $1,380,000 after buying an additional 1,366 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Globant by 9.1% in the first quarter. Fisher Asset Management LLC now owns 10,800 shares of the information technology services provider’s stock valued at $393,000 after buying an additional 900 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Globant by 46.8% in the first quarter. Russell Investments Group Ltd. now owns 300,618 shares of the information technology services provider’s stock valued at $10,947,000 after buying an additional 95,815 shares in the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Globant during the first quarter valued at about $566,000. Hedge funds and other institutional investors own 66.49% of the company’s stock.

Shares of Globant S.A. (NYSE:GLOB) traded down 0.91% on Monday, reaching $39.12. 55,415 shares of the company were exchanged. The firm’s 50 day moving average price is $42.92 and its 200 day moving average price is $39.07. Globant S.A. has a 52 week low of $30.90 and a 52 week high of $47.51. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 47.19 and a beta of 0.85.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.16. The firm had revenue of $99.60 million for the quarter, compared to analyst estimates of $95.79 million. Globant had a return on equity of 15.08% and a net margin of 8.61%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. Equities research analysts anticipate that Globant S.A. will post $1.25 EPS for the current year.

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GLOB has been the topic of several analyst reports. Cantor Fitzgerald reiterated a “hold” rating and issued a $36.00 target price on shares of Globant in a research note on Friday, May 19th. BidaskClub downgraded shares of Globant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Citigroup Inc. upped their target price on shares of Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Finally, SunTrust Banks, Inc. downgraded shares of Globant from a “buy” rating to a “hold” rating and upped their target price for the stock from $43.00 to $48.00 in a research note on Thursday, July 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Globant has an average rating of “Hold” and a consensus target price of $44.71.

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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