State Board of Administration of Florida Retirement System Acquires Shares of 6,004 Globant SA (GLOB)
State Board of Administration of Florida Retirement System purchased a new stake in Globant SA (NYSE:GLOB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,004 shares of the company’s stock, valued at approximately $236,000.
A number of other hedge funds and other institutional investors have also modified their holdings of GLOB. JPMorgan Chase & Co. increased its position in shares of Globant SA by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 1,666,919 shares of the company’s stock valued at $51,442,000 after buying an additional 518,466 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Globant SA by 5.9% in the first quarter. Wellington Management Group LLP now owns 240,288 shares of the company’s stock valued at $7,416,000 after buying an additional 13,448 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Globant SA during the first quarter valued at $5,863,000. Prudential Financial Inc. raised its stake in shares of Globant SA by 1,395.6% in the first quarter. Prudential Financial Inc. now owns 100,950 shares of the company’s stock valued at $3,115,000 after buying an additional 94,200 shares during the last quarter. Finally, Tygh Capital Management Inc. purchased a new stake in shares of Globant SA during the second quarter valued at $3,609,000. 61.24% of the stock is currently owned by institutional investors.
Globant SA (NYSE:GLOB) traded down 0.21% during midday trading on Monday, hitting $43.60. The stock had a trading volume of 45,995 shares. Globant SA has a 52 week low of $22.50 and a 52 week high of $44.95. The company has a market capitalization of $1.50 billion, a PE ratio of 45.89 and a beta of 1.19. The company’s 50-day moving average price is $41.24 and its 200 day moving average price is $38.94.
Globant SA (NYSE:GLOB) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Globant SA had a return on equity of 20.00% and a net margin of 11.46%. The firm had revenue of $79.90 million for the quarter, compared to analyst estimates of $76.81 million. During the same quarter last year, the company earned $0.25 EPS. The company’s revenue was up 31.8% on a year-over-year basis. On average, analysts expect that Globant SA will post $1.19 EPS for the current year.
Several analysts have recently weighed in on GLOB shares. Cantor Fitzgerald reissued a “hold” rating and set a $35.00 price objective on shares of Globant SA in a report on Wednesday, June 29th. Pacific Crest initiated coverage on Globant SA in a research note on Tuesday, July 12th. They issued a “sector weight” rating on the stock. Zacks Investment Research lowered Globant SA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $28.00 price target on shares of Globant SA in a research note on Tuesday, July 19th. Finally, TheStreet raised Globant SA from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Globant SA currently has a consensus rating of “Buy” and a consensus target price of $40.14.
About Globant SA
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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