Icon Advisers Inc. Co. purchased a new position in Globant SA (NYSE:GLOB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,400 shares of the information technology services provider’s stock, valued at approximately $1,152,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bollard Group LLC bought a new position in shares of Globant in the first quarter worth about $29,000. Icon Wealth Partners LLC bought a new position in shares of Globant in the first quarter worth about $42,000. Cutler Group LP bought a new position in shares of Globant in the first quarter worth about $128,000. Winslow Evans & Crocker Inc. grew its holdings in shares of Globant by 1,182.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock worth $192,000 after purchasing an additional 1,750 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Globant in the second quarter worth about $208,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.
Globant stock traded down $2.37 during midday trading on Friday, hitting $98.74. 733,600 shares of the company’s stock were exchanged, compared to its average volume of 298,233. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69. Globant SA has a 12 month low of $46.30 and a 12 month high of $112.33. The firm has a 50-day moving average of $105.81 and a two-hundred day moving average of $86.61. The company has a market cap of $3.66 billion, a PE ratio of 71.04 and a beta of 0.84.
Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). Globant had a return on equity of 16.35% and a net margin of 9.77%. The business had revenue of $157.50 million for the quarter, compared to the consensus estimate of $157.50 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. As a group, equities analysts expect that Globant SA will post 1.72 earnings per share for the current year.
GLOB has been the topic of a number of research analyst reports. Citigroup cut shares of Globant from a “buy” rating to a “neutral” rating and upped their price target for the stock from $93.00 to $115.00 in a report on Wednesday, July 17th. Wedbush reiterated an “outperform” rating and set a $90.00 target price (up from $75.00) on shares of Globant in a report on Wednesday, May 8th. Zacks Investment Research cut shares of Globant from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Itau BBA Securities upgraded shares of Globant from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $74.00 to $113.00 in a report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Globant has an average rating of “Buy” and a consensus target price of $88.00.
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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