Fisher Asset Management LLC Has $734,000 Position in Globant S.A. (GLOB)

Fisher Asset Management LLC raised its stake in shares of Globant S.A. (NYSE:GLOB) by 56.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,900 shares of the information technology services provider’s stock after buying an additional 6,100 shares during the period. Fisher Asset Management LLC’s holdings in Globant were worth $734,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GLOB. Morgan Stanley increased its stake in shares of Globant by 21.5% in the first quarter. Morgan Stanley now owns 2,242,442 shares of the information technology services provider’s stock valued at $81,625,000 after buying an additional 396,660 shares in the last quarter. Sloane Robinson LLP increased its stake in shares of Globant by 1,312.5% in the first quarter. Sloane Robinson LLP now owns 372,900 shares of the information technology services provider’s stock valued at $13,574,000 after buying an additional 346,500 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Globant by 89.7% in the first quarter. Wellington Management Group LLP now owns 528,374 shares of the information technology services provider’s stock valued at $19,233,000 after buying an additional 249,838 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its stake in shares of Globant by 88.2% in the first quarter. Grandeur Peak Global Advisors LLC now owns 517,050 shares of the information technology services provider’s stock valued at $18,821,000 after buying an additional 242,275 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Globant by 1,371.9% in the first quarter. Mackenzie Financial Corp now owns 247,000 shares of the information technology services provider’s stock valued at $8,991,000 after buying an additional 230,219 shares in the last quarter. Institutional investors own 73.08% of the company’s stock.

Shares of Globant S.A. (GLOB) traded down 6.39% during trading on Friday, reaching $39.56. 697,207 shares of the company’s stock were exchanged. Globant S.A. has a 52-week low of $30.90 and a 52-week high of $47.51. The company has a market capitalization of $1.38 billion, a PE ratio of 47.72 and a beta of 0.85. The company has a 50 day moving average price of $43.45 and a 200-day moving average price of $38.85.

Globant (NYSE:GLOB) last posted its quarterly earnings data 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. Globant had a return on equity of 15.52% and a net margin of 8.61%. The company had revenue of $99.60 million for the quarter, compared to the consensus estimate of $95.79 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities analysts forecast that Globant S.A. will post $1.26 earnings per share for the current year.

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GLOB has been the topic of several research analyst reports. Citigroup Inc. increased 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 cut shares of Globant from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. SunTrust Banks, Inc. cut shares of 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 research 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 research report on Friday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Globant has a consensus rating of “Hold” and an average price target of $44.71.

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.

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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