Gluskin Sheff & Assoc Inc. Has $10.21 Million Position in Globant S.A. (GLOB)

Gluskin Sheff & Assoc Inc. increased its stake in shares of Globant S.A. (NYSE:GLOB) by 31.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,000 shares of the information technology services provider’s stock after acquiring an additional 56,600 shares during the period. Gluskin Sheff & Assoc Inc. owned about 0.68% of Globant worth $10,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its holdings in Globant by 0.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock worth $1,451,000 after acquiring an additional 100 shares during the period. Bank of New York Mellon Corp grew its holdings in Globant by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 68,163 shares of the information technology services provider’s stock worth $2,481,000 after acquiring an additional 605 shares during the period. American International Group Inc. grew its holdings in Globant by 7.1% during the first quarter. American International Group Inc. now owns 15,829 shares of the information technology services provider’s stock worth $576,000 after acquiring an additional 1,047 shares during the period. UBS Group AG grew its holdings in Globant by 11.4% during the first quarter. UBS Group AG now owns 12,786 shares of the information technology services provider’s stock worth $466,000 after acquiring an additional 1,311 shares during the period. Finally, Bank of America Corp DE grew its holdings in 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. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Globant S.A. (NYSE GLOB) traded down 2.16% during trading on Wednesday, reaching $37.11. The company’s stock had a trading volume of 23,143 shares. The company has a 50 day moving average price of $40.42 and a 200 day moving average price of $39.45. Globant S.A. has a 52 week low of $30.90 and a 52 week high of $47.51. The firm has a market capitalization of $1.30 billion, a P/E ratio of 44.76 and a beta of 0.88.

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 net margin of 8.61% and a return on equity of 15.08%. The company had revenue of $99.60 million during the quarter, compared to analyst estimates of $95.79 million. During the same quarter last year, the firm earned $0.29 EPS. The business’s revenue was up 24.7% on a year-over-year basis. On average, equities research analysts expect that Globant S.A. will post $1.25 EPS for the current fiscal year.

Several analysts recently commented on the company. BidaskClub lowered Globant from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $42.00 target price (up from $36.00) on shares of Globant in a report on Friday, August 18th. SunTrust Banks, Inc. lowered Globant from a “buy” rating to a “hold” rating and raised their target price 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. Finally, Citigroup Inc. raised their target price on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $44.17.

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About Globant

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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