Eqis Capital Management Inc. Takes Position in Globant S.A. (NYSE:GLOB)

Eqis Capital Management Inc. acquired a new position in Globant S.A. (NYSE:GLOB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,717 shares of the information technology services provider’s stock, valued at approximately $205,000.

A number of other institutional investors also recently made changes to their positions in GLOB. Schwab Charles Investment Management Inc. boosted its stake in Globant by 0.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock valued at $1,451,000 after buying an additional 100 shares during the period. State Board of Administration of Florida Retirement System boosted its stake 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 last quarter. Bank of New York Mellon Corp boosted its stake in shares of Globant by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 68,163 shares of the information technology services provider’s stock worth $2,481,000 after buying an additional 605 shares during the last quarter. Fisher Asset Management LLC boosted its stake 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 worth $393,000 after buying an additional 900 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Globant by 7.1% in the first quarter. American International Group Inc. now owns 15,829 shares of the information technology services provider’s stock worth $576,000 after buying an additional 1,047 shares during the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Shares of Globant S.A. (NYSE:GLOB) traded down 6.39% on Friday, hitting $39.56. The company’s stock had a trading volume of 697,207 shares. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 47.72 and a beta of 0.85. Globant S.A. has a 52 week low of $30.90 and a 52 week high of $47.51. The stock’s 50 day moving average is $43.45 and its 200-day moving average is $38.85.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.16. The company had revenue of $99.60 million for the quarter, compared to analyst estimates of $95.79 million. Globant had a return on equity of 15.52% and a net margin of 8.61%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. On average, equities research analysts anticipate that Globant S.A. will post $1.26 earnings per share for the current year.

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A number of equities research analysts have recently weighed in on GLOB shares. Citigroup Inc. lifted their price objective on Globant from $42.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. BidaskClub cut Globant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. SunTrust Banks, Inc. downgraded Globant from a “buy” rating to a “hold” rating and lifted 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. 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 analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target 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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