WCM Investment Management CA Purchases 1,495 Shares of Globant SA (GLOB)

WCM Investment Management CA boosted its position in Globant SA (NYSE:GLOB) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,864 shares of the information technology services provider’s stock after purchasing an additional 1,495 shares during the quarter. WCM Investment Management CA owned about 0.11% of Globant worth $2,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in Globant in the 2nd quarter valued at $160,000. PNC Financial Services Group Inc. boosted its stake in Globant by 48.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the information technology services provider’s stock valued at $185,000 after purchasing an additional 1,064 shares during the period. Cim LLC bought a new stake in Globant in the 3rd quarter valued at $212,000. Bank of Montreal Can boosted its stake in Globant by 32.9% in the 2nd quarter. Bank of Montreal Can now owns 3,640 shares of the information technology services provider’s stock valued at $206,000 after purchasing an additional 901 shares during the period. Finally, Signition LP bought a new stake in Globant in the 2nd quarter valued at $227,000. Institutional investors and hedge funds own 76.53% of the company’s stock.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. SunTrust Banks boosted their price target on Globant to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Finally, Citigroup boosted their price target on Globant from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Globant presently has an average rating of “Buy” and an average target price of $58.00.

Shares of NYSE GLOB opened at $53.42 on Friday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 60.70 and a beta of 0.83. Globant SA has a fifty-two week low of $34.82 and a fifty-two week high of $66.41.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 23rd. The information technology services provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The firm had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $125.18 million. Globant had a return on equity of 15.07% and a net margin of 9.48%. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. Equities research analysts anticipate that Globant SA will post 1.44 earnings per share 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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