William Blair Investment Management LLC Purchases New Stake in Globant S.A. (GLOB)
William Blair Investment Management LLC purchased a new position in Globant S.A. (NYSE:GLOB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,660 shares of the information technology services provider’s stock, valued at approximately $1,245,000. William Blair Investment Management LLC owned approximately 0.08% of Globant as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of 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 worth $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 in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Globant during the second quarter worth approximately $205,000. Paloma Partners Management Co acquired a new position in shares of Globant during the first quarter worth approximately $277,000. Finally, US Bancorp DE increased its position in shares of Globant by 1,461.5% in the second quarter. US Bancorp DE now owns 6,808 shares of the information technology services provider’s stock worth $296,000 after buying an additional 6,372 shares in the last quarter. 66.49% of the stock is currently owned by institutional investors.
Shares of Globant S.A. (NYSE:GLOB) opened at 39.48 on Monday. The company’s 50-day moving average is $42.92 and its 200-day moving average is $39.07. Globant S.A. has a 12-month low of $30.90 and a 12-month high of $47.51. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 47.62 and a beta of 0.85.
Globant (NYSE:GLOB) last released its earnings results on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by $0.16. Globant had a net margin of 8.61% and a return on equity of 15.08%. The firm had revenue of $99.60 million during the quarter, compared to the consensus estimate of $95.79 million. During the same period in the prior year, the business posted $0.29 earnings per share. Globant’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities analysts forecast that Globant S.A. will post $1.25 earnings per share for the current fiscal year.
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A number of equities analysts have recently commented on GLOB shares. SunTrust Banks, Inc. downgraded shares of Globant from a “buy” rating to a “hold” rating and raised their target price for the company from $43.00 to $48.00 in a research note on Thursday, July 27th. They noted that the move was a valuation call. Cantor Fitzgerald reissued 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. Finally, Citigroup Inc. raised their target price on shares of Globant from $42.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Globant currently 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.
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