Paloma Partners Management Co Takes Position in Globant S.A. (GLOB)
Paloma Partners Management Co purchased a new position in shares of Globant S.A. (NYSE:GLOB) during the first quarter, Holdings Channel reports. The fund purchased 7,630 shares of the information technology services provider’s stock, valued at approximately $277,000.
Other large investors have also added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Globant by 21.5% in 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 buying an additional 396,660 shares during the last quarter. Sloane Robinson LLP boosted its stake in shares of Globant by 1,312.5% in 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 buying an additional 346,500 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Globant by 89.7% in 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 buying an additional 249,838 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Globant by 1,371.9% in 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 buying an additional 230,219 shares during the last quarter. Finally, Gluskin Sheff & Assoc Inc. purchased a new stake in shares of Globant during the first quarter valued at approximately $10,986,000. 70.82% of the stock is currently owned by institutional investors.
Shares of Globant S.A. (GLOB) opened at 45.35 on Friday. The company has a market cap of $1.57 billion, a PE ratio of 44.03 and a beta of 0.85. The company’s 50-day moving average price is $42.55 and its 200 day moving average price is $37.32. Globant S.A. has a one year low of $30.90 and a one year high of $47.19.
Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, May 18th. The information technology services provider reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Globant had a net margin of 11.13% and a return on equity of 18.60%. The business had revenue of $88.74 million for the quarter, compared to analysts’ expectations of $87.63 million. During the same period in the prior year, the firm earned $0.24 earnings per share. Globant’s revenue was up 21.0% compared to the same quarter last year. Equities analysts forecast that Globant S.A. will post $1.27 EPS for the current fiscal year.
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GLOB has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “hold” rating and set a $36.00 target price on shares of Globant in a report on Friday, May 19th. BidaskClub cut Globant from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Citigroup Inc. boosted their target price on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.43.
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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