Russell Investments Group Ltd. decreased its stake in Globant SA (NYSE:GLOB) by 63.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,319 shares of the information technology services provider’s stock after selling 138,668 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.22% of Globant worth $4,683,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in GLOB. Zions Bancorporation acquired a new position in shares of Globant during the 2nd quarter worth $160,000. PNC Financial Services Group Inc. increased its stake in shares of Globant by 48.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the information technology services provider’s stock worth $185,000 after purchasing an additional 1,064 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Globant by 32.9% during the 2nd quarter. Bank of Montreal Can now owns 3,640 shares of the information technology services provider’s stock worth $206,000 after purchasing an additional 901 shares during the last quarter. Signition LP acquired a new position in shares of Globant during the 2nd quarter worth $227,000. Finally, Legal & General Group Plc increased its stake in shares of Globant by 87.8% during the 1st quarter. Legal & General Group Plc now owns 5,446 shares of the information technology services provider’s stock worth $281,000 after purchasing an additional 2,546 shares during the last quarter. Institutional investors own 78.68% of the company’s stock.
NYSE:GLOB opened at $52.50 on Monday. Globant SA has a 1 year low of $37.94 and a 1 year high of $66.41. The firm has a market capitalization of $1.88 billion, a P/E ratio of 59.66 and a beta of 0.83.
Globant (NYSE:GLOB) last posted its earnings results on Thursday, November 15th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Globant had a net margin of 10.53% and a return on equity of 16.03%. The firm had revenue of $134.57 million during the quarter, compared to analyst estimates of $132.72 million. Equities analysts anticipate that Globant SA will post 1.49 earnings per share for the current fiscal year.
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Globant from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 24th. Citigroup increased their price target on shares of Globant from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Goldman Sachs Group assumed coverage on shares of Globant in a research note on Monday, November 19th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $62.14.
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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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