Bell Bank Acquires New Position in Globant SA (GLOB)

Bell Bank acquired a new position in Globant SA (NYSE:GLOB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,967 shares of the information technology services provider’s stock, valued at approximately $239,000.

A number of other institutional investors have also bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in shares of Globant during the third quarter valued at $1,700,000. Mackenzie Financial Corp lifted its stake in shares of Globant by 12.1% during the third quarter. Mackenzie Financial Corp now owns 428,819 shares of the information technology services provider’s stock valued at $17,183,000 after acquiring an additional 46,400 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Globant by 137.9% during the third quarter. Wells Fargo & Company MN now owns 14,079 shares of the information technology services provider’s stock valued at $564,000 after acquiring an additional 8,161 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Globant by 5.9% during the third quarter. Stephens Investment Management Group LLC now owns 235,287 shares of the information technology services provider’s stock valued at $9,428,000 after acquiring an additional 13,213 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Globant during the third quarter valued at $270,000. 65.26% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. Cowen reaffirmed a “buy” rating and set a $50.00 price target on shares of Globant in a research note on Thursday, October 12th. BidaskClub lowered Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research lowered Globant from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 22nd. Wedbush reiterated an “outperform” rating and issued a $48.00 price objective on shares of Globant in a report on Saturday, October 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $42.00 price objective (up previously from $36.00) on shares of Globant in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $44.83.

Shares of Globant SA (NYSE GLOB) opened at $38.11 on Tuesday. The company has a market capitalization of $1,379.78, a PE ratio of 45.71 and a beta of 0.83. Globant SA has a fifty-two week low of $30.90 and a fifty-two week high of $47.51.

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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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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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