Sloane Robinson LLP Acquires 105,200 Shares of Globant S.A. (GLOB)
Sloane Robinson LLP increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 28.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 478,100 shares of the information technology services provider’s stock after purchasing an additional 105,200 shares during the period. Globant accounts for approximately 13.3% of Sloane Robinson LLP’s holdings, making the stock its 4th largest position. Sloane Robinson LLP owned about 1.38% of Globant worth $20,769,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can boosted its holdings in shares of Globant by 1,002.4% during the second quarter. Bank of Montreal Can now owns 2,337 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 2,125 shares during the period. Bank of America Corp DE boosted its holdings in shares of Globant by 34.5% during 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 acquiring an additional 1,321 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Globant during the second quarter worth approximately $205,000. Paloma Partners Management Co bought a new stake in shares of Globant during the first quarter worth approximately $277,000. Finally, US Bancorp DE boosted its holdings in shares of Globant by 1,461.5% during the second quarter. US Bancorp DE now owns 6,808 shares of the information technology services provider’s stock worth $296,000 after acquiring an additional 6,372 shares during the period. Institutional investors and hedge funds own 66.49% of the company’s stock.
Shares of Globant S.A. (NYSE:GLOB) traded down 0.56% during midday trading on Thursday, hitting $38.78. The company had a trading volume of 13,876 shares. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 46.78 and a beta of 0.88. The company’s 50-day moving average price is $41.49 and its 200 day moving average price is $39.38. Globant S.A. has a 12-month low of $30.90 and a 12-month high of $47.51.
Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.16). Globant had a return on equity of 15.08% and a net margin of 8.61%. The company had revenue of $99.60 million for the quarter, compared to analysts’ expectations of $95.79 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities research analysts predict that Globant S.A. will post $1.25 earnings per share for the current fiscal year.
GLOB has been the subject of a number of research analyst reports. SunTrust Banks, Inc. cut Globant from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $43.00 to $48.00 in a report on Thursday, July 27th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “hold” rating and set a $36.00 price objective on shares of Globant in a report on Friday, May 19th. BidaskClub cut Globant from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Citigroup Inc. boosted their price objective on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $44.17.
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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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