Thornburg Investment Management Inc. cut its holdings in shares of Globant (NYSE:GLOB) by 19.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 194,827 shares of the information technology services provider’s stock after selling 45,759 shares during the period. Thornburg Investment Management Inc.’s holdings in Globant were worth $10,041,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Hood River Capital Management LLC grew its position in shares of Globant by 10.5% during the 1st quarter. Hood River Capital Management LLC now owns 422,190 shares of the information technology services provider’s stock valued at $21,760,000 after acquiring an additional 40,055 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Globant during the 1st quarter valued at about $341,000. RWC Asset Management LLP grew its position in shares of Globant by 61.4% during the 1st quarter. RWC Asset Management LLP now owns 1,261,539 shares of the information technology services provider’s stock valued at $65,020,000 after acquiring an additional 480,150 shares during the period. Parametrica Management Ltd acquired a new stake in shares of Globant during the 1st quarter valued at about $252,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Globant during the 1st quarter valued at about $1,873,000. Hedge funds and other institutional investors own 69.57% of the company’s stock.
GLOB stock opened at $51.83 on Friday. Globant has a 12-month low of $33.87 and a 12-month high of $55.74. The stock has a market capitalization of $1.66 billion, a P/E ratio of 58.90 and a beta of 0.57.
Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 10th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Globant had a return on equity of 13.03% and a net margin of 7.55%. The company had revenue of $119.70 million for the quarter, compared to analysts’ expectations of $113.96 million. During the same period in the previous year, the firm posted $0.27 EPS. Globant’s revenue was up 34.9% compared to the same quarter last year. equities research analysts anticipate that Globant will post 1.22 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Globant from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. SunTrust Banks raised their target price on Globant to $52.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. They noted that the move was a valuation call. HSBC assumed coverage on Globant in a research report on Friday, April 20th. They set a “hold” rating and a $48.00 target price on the stock. Finally, ValuEngine upgraded Globant from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $48.38.
Globant Company Profile
Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.
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