Mckinley Capital Management LLC Delaware decreased its position in Globant SA (NYSE:GLOB) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,356 shares of the information technology services provider’s stock after selling 934 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Globant were worth $1,023,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wasatch Advisors Inc. raised its stake in shares of Globant by 36.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,758,045 shares of the information technology services provider’s stock worth $103,707,000 after buying an additional 474,011 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Globant during the 3rd quarter worth $933,000. Brookstone Capital Management acquired a new position in shares of Globant during the 3rd quarter worth $285,000. Sloane Robinson LLP raised its stake in shares of Globant by 17.0% during the 3rd quarter. Sloane Robinson LLP now owns 162,200 shares of the information technology services provider’s stock worth $9,568,000 after buying an additional 23,600 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Globant during the 3rd quarter worth $267,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE GLOB traded down $3.58 on Friday, reaching $53.75. 149,795 shares of the company traded hands, compared to its average volume of 178,061. Globant SA has a fifty-two week low of $39.07 and a fifty-two week high of $66.41. The company has a market cap of $2.06 billion, a P/E ratio of 61.08 and a beta of 0.85.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, November 15th. The information technology services provider reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.01). Globant had a net margin of 10.53% and a return on equity of 16.03%. The company had revenue of $134.57 million for the quarter, compared to analyst estimates of $132.72 million. On average, analysts expect that Globant SA will post 1.49 EPS for the current fiscal year.

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $57.00 price target on shares of Globant in a research note on Friday, November 30th. Goldman Sachs Group initiated coverage on shares of Globant in a research note on Monday, November 19th. They issued a “buy” rating and a $65.00 target price for the company. Zacks Investment Research downgraded shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. cut their target price on shares of Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. Finally, Citigroup boosted their target price on shares of Globant from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Globant currently has a consensus rating of “Buy” and a consensus price target of $61.50.

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Globant Company 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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