AE Wealth Management LLC purchased a new stake in shares of Globant SA (NYSE:GLOB) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,343 shares of the information technology services provider’s stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GLOB. Fisher Asset Management LLC grew its position in Globant by 5,902.9% during the first quarter. Fisher Asset Management LLC now owns 503,286 shares of the information technology services provider’s stock valued at $44,229,000 after acquiring an additional 494,902 shares during the last quarter. BlackRock Inc. grew its position in Globant by 29.3% during the first quarter. BlackRock Inc. now owns 1,844,513 shares of the information technology services provider’s stock valued at $162,097,000 after acquiring an additional 417,941 shares during the last quarter. Norges Bank bought a new position in Globant during the fourth quarter valued at approximately $30,456,000. Bamco Inc. NY grew its position in Globant by 492.7% during the fourth quarter. Bamco Inc. NY now owns 340,924 shares of the information technology services provider’s stock valued at $36,155,000 after acquiring an additional 283,401 shares during the last quarter. Finally, Capital World Investors grew its position in Globant by 29.0% during the fourth quarter. Capital World Investors now owns 1,091,100 shares of the information technology services provider’s stock valued at $115,711,000 after acquiring an additional 245,100 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

GLOB has been the topic of a number of recent research reports. Goldman Sachs Group reduced their price target on shares of Globant from $165.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Cantor Fitzgerald raised their target price on shares of Globant from $97.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Wedbush cut their target price on shares of Globant from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Zacks Investment Research upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Citigroup raised their target price on shares of Globant from $110.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Globant presently has an average rating of “Hold” and a consensus price target of $123.55.

NYSE:GLOB opened at $137.00 on Friday. The stock has a market cap of $5.03 billion, a P/E ratio of 72.55 and a beta of 1.28. The firm’s fifty day simple moving average is $107.14 and its 200 day simple moving average is $108.07. Globant SA has a twelve month low of $70.83 and a twelve month high of $141.67. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.38.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $184.31 million for the quarter, compared to analysts’ expectations of $183.46 million. Globant had a net margin of 7.82% and a return on equity of 16.57%. On average, analysts expect that Globant SA will post 1.74 EPS for the current fiscal year.

About Globant

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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