Bank of Montreal Can Boosts Position in Globant S.A. (GLOB)

Bank of Montreal Can boosted its holdings in shares of Globant S.A. (NYSE:GLOB) by 1,002.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,337 shares of the information technology services provider’s stock after purchasing an additional 2,125 shares during the period. Bank of Montreal Can’s holdings in Globant were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GLOB. Morgan Stanley lifted its position in Globant by 21.5% during the first quarter. Morgan Stanley now owns 2,242,442 shares of the information technology services provider’s stock valued at $81,625,000 after purchasing an additional 396,660 shares during the period. Sloane Robinson LLP lifted its position in Globant by 1,312.5% during the first quarter. Sloane Robinson LLP now owns 372,900 shares of the information technology services provider’s stock valued at $13,574,000 after purchasing an additional 346,500 shares during the period. Wellington Management Group LLP lifted its position in Globant by 89.7% during the first quarter. Wellington Management Group LLP now owns 528,374 shares of the information technology services provider’s stock valued at $19,233,000 after purchasing an additional 249,838 shares during the period. Grandeur Peak Global Advisors LLC lifted its position in Globant by 88.2% during the first quarter. Grandeur Peak Global Advisors LLC now owns 517,050 shares of the information technology services provider’s stock valued at $18,821,000 after purchasing an additional 242,275 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Globant by 1,371.9% during the first quarter. Mackenzie Financial Corp now owns 247,000 shares of the information technology services provider’s stock valued at $8,991,000 after purchasing an additional 230,219 shares during the period. Institutional investors own 66.49% of the company’s stock.

A number of research analysts recently issued reports on the stock. BidaskClub downgraded shares of Globant from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Cantor Fitzgerald restated a “neutral” rating and set a $42.00 target price (up from $36.00) on shares of Globant in a research report on Friday, August 18th. SunTrust Banks, Inc. downgraded shares of Globant from a “buy” rating to a “hold” rating and boosted their target price for the company from $43.00 to $48.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Finally, Citigroup Inc. boosted their target price on shares of Globant from $42.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Globant has a consensus rating of “Hold” and a consensus price target of $44.17.

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Shares of Globant S.A. (GLOB) traded up 0.70% on Tuesday, hitting $39.09. 70,846 shares of the company’s stock were exchanged. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 47.15 and a beta of 0.88. The company’s 50-day moving average price is $41.77 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 released its earnings results on Thursday, August 17th. The information technology services provider reported $0.10 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 firm had revenue of $99.60 million during the quarter, compared to analyst estimates of $95.79 million. During the same quarter last year, the business posted $0.29 EPS. The firm’s revenue was up 24.7% on a year-over-year basis. On average, equities analysts predict that Globant S.A. will post $1.25 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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