Xact Kapitalforvaltning AB acquired a new stake in Globant SA (NYSE:GLOB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,000 shares of the information technology services provider’s stock, valued at approximately $303,000.

Several other hedge funds also recently modified their holdings of GLOB. Bollard Group LLC purchased a new position in shares of Globant in the 1st quarter valued at about $29,000. Icon Wealth Partners LLC purchased a new position in shares of Globant in the 1st quarter valued at about $42,000. Cutler Group LP purchased a new position in shares of Globant in the 1st quarter valued at about $128,000. Quantamental Technologies LLC purchased a new position in shares of Globant in the 1st quarter valued at about $150,000. Finally, Cim LLC purchased a new position in shares of Globant in the 1st quarter valued at about $208,000. 78.99% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on GLOB. Citigroup lowered Lear from a “buy” rating to a “neutral” rating and cut their price target for the company from $188.00 to $144.00 in a research note on Wednesday, July 17th. Itau BBA Securities upgraded Globant from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $74.00 to $113.00 in a research note on Friday, June 21st. Wedbush reiterated an “outperform” rating on shares of Purple Innovation in a research note on Wednesday, May 8th. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley set a $165.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $84.78.

Shares of Globant stock traded down $0.50 on Monday, hitting $110.23. 6,889 shares of the company were exchanged, compared to its average volume of 241,767. The stock has a market cap of $4.01 billion, a PE ratio of 79.06 and a beta of 0.85. The stock’s 50-day moving average is $103.11. Globant SA has a 1-year low of $46.30 and a 1-year high of $111.17. The company has a quick ratio of 2.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.09.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, May 9th. The information technology services provider reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $146.15 million for the quarter, compared to analysts’ expectations of $145.23 million. Globant had a return on equity of 16.35% and a net margin of 9.77%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. As a group, sell-side analysts predict that Globant SA will post 1.72 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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