California Public Employees Retirement System maintained its position in shares of Globant SA (NYSE:GLOB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,100 shares of the company’s stock at the end of the second quarter. California Public Employees Retirement System owned 0.12% of Globant SA worth $1,617,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Globant SA by 76.9% in the second quarter. Bank of New York Mellon Corp now owns 57,351 shares of the company’s stock worth $2,257,000 after buying an additional 24,923 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Globant SA during the second quarter worth $2,985,000. Boston Advisors LLC bought a new stake in shares of Globant SA during the second quarter worth $484,000. Fis Group Inc. bought a new stake in shares of Globant SA during the second quarter worth $451,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Globant SA by 11.4% in the second quarter. Fisher Asset Management LLC now owns 7,100 shares of the company’s stock worth $285,000 after buying an additional 726 shares during the period. Hedge funds and other institutional investors own 61.24% of the company’s stock.
Shares of Globant SA (NYSE:GLOB) traded up 1.00% on Monday, reaching $44.43. 64,300 shares of the company’s stock traded hands. The company has a 50 day moving average price of $40.69 and a 200 day moving average price of $38.50. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 46.77 and a beta of 1.19. Globant SA has a 52 week low of $22.50 and a 52 week high of $44.81.
Globant SA (NYSE:GLOB) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company earned $79.90 million during the quarter, compared to analyst estimates of $76.81 million. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, equities research analysts predict that Globant SA will post $1.19 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on GLOB. JPMorgan Chase & Co. boosted their price target on shares of Globant SA from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $43.00 target price on shares of Globant SA in a report on Monday, August 8th. Jefferies Group reaffirmed a “hold” rating and issued a $37.00 target price on shares of Globant SA in a report on Thursday, August 11th. Pacific Crest reaffirmed a “hold” rating on shares of Globant SA in a report on Thursday, August 11th. Finally, Citigroup Inc. upped their target price on shares of Globant SA from $41.00 to $48.50 and gave the company a “buy” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $38.14.
Globant SA Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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