PNC Financial Services Group Inc. trimmed its holdings in Globant SA (NYSE:GLOB) by 49.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,202 shares of the information technology services provider’s stock after selling 2,115 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Globant were worth $113,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Tygh Capital Management Inc. acquired a new position in shares of Globant in the 1st quarter valued at $6,711,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Globant by 5.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 55,417 shares of the information technology services provider’s stock valued at $2,857,000 after acquiring an additional 2,753 shares during the period. Bamco Inc. NY increased its holdings in shares of Globant by 62.7% in the 1st quarter. Bamco Inc. NY now owns 22,747 shares of the information technology services provider’s stock valued at $1,172,000 after acquiring an additional 8,770 shares during the period. US Bancorp DE increased its holdings in shares of Globant by 14.1% in the 1st quarter. US Bancorp DE now owns 13,104 shares of the information technology services provider’s stock valued at $675,000 after acquiring an additional 1,624 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of Globant in the 1st quarter valued at $792,000. 67.39% of the stock is currently owned by institutional investors and hedge funds.
Globant opened at $56.79 on Friday, MarketBeat reports. Globant SA has a 1-year low of $34.82 and a 1-year high of $57.57. The firm has a market capitalization of $1.97 billion, a P/E ratio of 59.79 and a beta of 0.61.
Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 10th. The information technology services provider reported $0.38 earnings per share for the quarter, beating 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 firm had revenue of $119.70 million for the quarter, compared to analyst estimates of $113.96 million. During the same period last year, the firm posted $0.27 EPS. Globant’s quarterly revenue was up 34.9% on a year-over-year basis. equities analysts anticipate that Globant SA will post 1.23 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Friday, June 22nd. HSBC assumed coverage on shares of Globant in a report on Friday, April 20th. They issued a “hold” rating and a $48.00 target price on the stock. SunTrust Banks raised shares of Globant from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Wedbush lifted their target price on shares of Globant from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, June 19th. Finally, ValuEngine raised shares of Globant from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $52.13.
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.
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