Globant SA (NYSE:GLOB) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its stake in shares of Globant SA (NYSE:GLOB) by 17.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 805,587 shares of the information technology services provider’s stock after selling 168,068 shares during the period. Wells Fargo & Company MN owned approximately 2.21% of Globant worth $57,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in Globant by 151.7% during the fourth quarter. Mackenzie Financial Corp now owns 623,994 shares of the information technology services provider’s stock valued at $35,143,000 after buying an additional 376,047 shares during the period. Bank of New York Mellon Corp boosted its position 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 period. Dimensional Fund Advisors LP boosted its position in shares of Globant by 27.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 498,392 shares of the information technology services provider’s stock worth $28,070,000 after purchasing an additional 106,241 shares during the period. BlackRock Inc. boosted its position in shares of Globant by 14.2% in the fourth quarter. BlackRock Inc. now owns 474,194 shares of the information technology services provider’s stock worth $26,707,000 after purchasing an additional 59,090 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Globant by 5.8% in the fourth quarter. American Century Companies Inc. now owns 343,030 shares of the information technology services provider’s stock worth $19,319,000 after purchasing an additional 18,912 shares during the period. 79.06% of the stock is owned by hedge funds and other institutional investors.

GLOB has been the topic of a number of recent research reports. Itau BBA Securities raised shares of Globant from a “market perform” rating to an “outperform” rating and upped their price target for the company from $74.00 to $113.00 in a research note on Friday, June 21st. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, April 16th. Morgan Stanley initiated coverage on shares of Globant in a research note on Wednesday, April 10th. They set an “overweight” rating and a $85.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Two investment 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’s stock. The stock has a consensus rating of “Buy” and an average target price of $79.33.

Shares of NYSE GLOB traded up $1.67 during mid-day trading on Monday, reaching $102.72. The company had a trading volume of 279,625 shares, compared to its average volume of 299,057. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69. Globant SA has a 52 week low of $46.30 and a 52 week high of $105.33. The stock’s 50-day moving average price is $94.08. The firm has a market cap of $3.68 billion, a PE ratio of 73.90 and a beta of 0.85.

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