Eqis Capital Management Inc. bought a new stake in Globant S.A. (NYSE:GLOB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,717 shares of the information technology services provider’s stock, valued at approximately $205,000.
Other large investors have also bought and sold shares of the company. Bank of Montreal Can increased its stake in 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. Bank of America Corp DE increased its position 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 worth $188,000 after buying an additional 1,321 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Globant by 1.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 8,064 shares of the information technology services provider’s stock worth $269,000 after buying an additional 120 shares during the period. Paloma Partners Management Co purchased a new position in shares of Globant during the first quarter worth about $277,000. Finally, Keybank National Association OH purchased a new position in shares of Globant during the first quarter worth about $318,000. Institutional investors and hedge funds own 74.02% of the company’s stock.
Globant S.A. (NYSE:GLOB) opened at 42.96 on Friday. Globant S.A. has a 52-week low of $30.90 and a 52-week high of $47.51. The company’s 50 day moving average is $43.58 and its 200-day moving average is $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 (NYSE:GLOB) last issued its quarterly earnings results on Thursday, May 18th. The information technology services provider reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. Globant had a return on equity of 18.60% and a net margin of 11.13%. The firm had revenue of $88.74 million during the quarter, compared to the consensus estimate of $87.63 million. During the same period last year, the company earned $0.24 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. On average, equities analysts predict that Globant S.A. will post $1.27 EPS for the current fiscal year.
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A number of research analysts have recently issued reports on the stock. Citigroup Inc. boosted their price target on shares of Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Globant from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Cantor Fitzgerald restated a “hold” rating and issued a $36.00 price target on shares of Globant in a research report on Friday, May 19th. Finally, SunTrust Banks, Inc. downgraded shares of Globant from a “buy” rating to a “hold” rating and boosted their price target for the stock from $43.00 to $48.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Globant presently has an average rating of “Hold” and a consensus 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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