Bamco Inc. NY increased its holdings in Globant SA (NYSE:GLOB) by 55.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,977 shares of the information technology services provider’s stock after acquiring an additional 4,957 shares during the quarter. Bamco Inc. NY’s holdings in Globant were worth $649,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in GLOB. Standard Life Aberdeen plc lifted its stake in shares of Globant by 215.9% in the fourth quarter. Standard Life Aberdeen plc now owns 1,012,353 shares of the information technology services provider’s stock worth $47,034,000 after acquiring an additional 691,866 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Globant during the fourth quarter valued at approximately $19,372,000. Hood River Capital Management LLC acquired a new stake in Globant during the fourth quarter valued at approximately $17,754,000. RWC Asset Management LLP raised its stake in Globant by 81.1% during the fourth quarter. RWC Asset Management LLP now owns 781,389 shares of the information technology services provider’s stock valued at $36,303,000 after buying an additional 349,973 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Globant by 37.0% during the fourth quarter. Mackenzie Financial Corp now owns 587,619 shares of the information technology services provider’s stock valued at $27,301,000 after buying an additional 158,800 shares in the last quarter. Institutional investors and hedge funds own 68.19% of the company’s stock.
Several analysts have issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $54.00 price objective (up previously from $50.00) on shares of Globant in a research note on Tuesday, February 20th. ValuEngine cut Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded Globant from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, February 22nd. SunTrust Banks upped their price objective on Globant to $52.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. They noted that the move was a valuation call. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $36.00 price objective (down previously from $42.00) on shares of Globant in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Globant has an average rating of “Hold” and a consensus price target of $49.57.
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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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