Northern Trust Corp Sells 997 Shares of Globant SA (GLOB)

Northern Trust Corp lessened its holdings in shares of Globant SA (NYSE:GLOB) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,894 shares of the information technology services provider’s stock after selling 997 shares during the quarter. Northern Trust Corp owned 0.33% of Globant worth $6,640,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GLOB. Comgest Global Investors S.A.S. raised its stake in Globant by 24.8% in the fourth quarter. Comgest Global Investors S.A.S. now owns 13,100 shares of the information technology services provider’s stock valued at $738,000 after purchasing an additional 2,600 shares in the last quarter. WCM Investment Management LLC grew its position in Globant by 5.8% during the fourth quarter. WCM Investment Management LLC now owns 40,044 shares of the information technology services provider’s stock valued at $2,255,000 after acquiring an additional 2,180 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Globant by 3.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,547 shares of the information technology services provider’s stock worth $4,255,000 after purchasing an additional 2,244 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Globant by 81.7% in the fourth quarter. Bank of New York Mellon Corp now owns 575,405 shares of the information technology services provider’s stock worth $32,407,000 after purchasing an additional 258,748 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware grew its holdings in shares of Globant by 5.4% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 18,292 shares of the information technology services provider’s stock worth $1,031,000 after purchasing an additional 936 shares during the last quarter. Institutional investors and hedge funds own 79.38% of the company’s stock.

Shares of Globant stock opened at $80.97 on Wednesday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 58.25 and a beta of 0.94. Globant SA has a 12 month low of $43.29 and a 12 month high of $82.93.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $140.14 million during the quarter, compared to analyst estimates of $139.32 million. Globant had a return on equity of 16.40% and a net margin of 9.89%. Globant’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. As a group, equities research analysts forecast that Globant SA will post 1.72 EPS for the current fiscal year.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Globant from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday. Morgan Stanley assumed coverage on shares of Globant in a report on Wednesday, April 10th. They issued an “overweight” rating and a $85.00 target price on the stock. Itau BBA Securities cut shares of Globant from an “outperform” rating to a “market perform” rating in a report on Friday, February 15th. Cantor Fitzgerald restated a “hold” rating and issued a $67.00 target price on shares of Globant in a report on Friday, February 15th. Finally, Wedbush raised their target price on shares of Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $70.56.

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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.

Further Reading: Google Finance Portfolio

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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