Mckinley Capital Management LLC Delaware trimmed its holdings in Globant SA (NYSE:GLOB) by 49.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,707 shares of the information technology services provider’s stock after selling 8,524 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Globant were worth $880,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FTB Advisors Inc. boosted its stake in Globant by 42.4% in the 2nd quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock worth $37,000 after buying an additional 111 shares during the last quarter. Bollard Group LLC acquired a new position in shares of Globant in the 1st quarter valued at about $29,000. Icon Wealth Partners LLC acquired a new position in shares of Globant in the 1st quarter valued at about $42,000. Cutler Group LP acquired a new position in shares of Globant in the 1st quarter valued at about $128,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in shares of Globant by 1,182.4% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock valued at $192,000 after purchasing an additional 1,750 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on GLOB shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Itau BBA Securities raised Globant from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $113.00 in a research note on Friday, June 21st. Cowen set a $116.00 price objective on Globant and gave the company a “buy” rating in a research note on Friday, August 16th. Citigroup lowered Globant from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $93.00 to $115.00 in a research note on Wednesday, July 17th. Finally, William Blair reaffirmed a “buy” rating on shares of Globant in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $89.30.

Shares of NYSE:GLOB traded down $1.52 during mid-day trading on Friday, hitting $95.30. 383,100 shares of the company traded hands, compared to its average volume of 392,362. The firm has a market cap of $3.52 billion, a P/E ratio of 68.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.29 and a current ratio of 2.26. Globant SA has a 52-week low of $46.30 and a 52-week high of $112.33. The firm’s 50 day simple moving average is $104.82 and its 200 day simple moving average is $87.29.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $157.50 million for the quarter, compared to analysts’ expectations of $157.50 million. Globant had a net margin of 9.09% and a return on equity of 16.39%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. Equities research analysts expect that Globant SA will post 1.78 EPS for the current fiscal year.

Globant 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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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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