29,800 Shares in Globant (NYSE:GLOB) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in Globant (NYSE:GLOB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,800 shares of the information technology services provider’s stock, valued at approximately $1,385,000. Renaissance Technologies LLC owned approximately 0.08% of Globant at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GLOB. SG Americas Securities LLC acquired a new stake in shares of Globant during the fourth quarter valued at about $172,000. California Public Employees Retirement System acquired a new stake in shares of Globant during the fourth quarter valued at about $287,000. Bank of New York Mellon Corp increased its position in shares of Globant by 46.2% during the third quarter. Bank of New York Mellon Corp now owns 9,977 shares of the information technology services provider’s stock valued at $400,000 after acquiring an additional 3,152 shares during the last quarter. American Capital Management Inc. increased its position in shares of Globant by 76.9% during the fourth quarter. American Capital Management Inc. now owns 11,480 shares of the information technology services provider’s stock valued at $533,000 after acquiring an additional 4,990 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Globant by 137.9% during the third quarter. Wells Fargo & Company MN now owns 14,079 shares of the information technology services provider’s stock valued at $564,000 after acquiring an additional 8,161 shares during the last quarter. 71.38% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on GLOB shares. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, April 24th. HSBC started coverage on shares of Globant in a research note on Friday, April 20th. They issued a “hold” rating and a $48.00 price objective for the company. SunTrust Banks raised shares of Globant from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. ValuEngine raised shares of Globant from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, JPMorgan Chase reissued an “overweight” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Globant in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Globant currently has a consensus rating of “Buy” and a consensus target price of $48.38.

Shares of Globant stock opened at $50.81 on Friday. Globant has a 52-week low of $49.75 and a 52-week high of $50.71. The company has a market capitalization of $1.77 billion, a P/E ratio of 57.74 and a beta of 0.57.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, May 10th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Globant had a net margin of 7.32% and a return on equity of 13.11%. The company had revenue of $119.70 million during the quarter, compared to the consensus estimate of $113.96 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. equities research analysts forecast that Globant will post 1.22 EPS 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.

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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