Paragon Advisors LLC acquired a new stake in Globant SA (NYSE:GLOB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,593 shares of the information technology services provider’s stock, valued at approximately $688,000.
A number of other institutional investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D grew its stake in Globant by 54.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 53,129 shares of the information technology services provider’s stock valued at $4,669,000 after acquiring an additional 18,666 shares during the period. State Street Corp boosted its position in shares of Globant by 4.3% during the first quarter. State Street Corp now owns 1,106,770 shares of the information technology services provider’s stock valued at $97,263,000 after buying an additional 45,517 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Globant by 3.5% during the first quarter. Royal Bank of Canada now owns 266,343 shares of the information technology services provider’s stock valued at $23,405,000 after buying an additional 8,883 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Globant by 12.5% during the first quarter. HighTower Advisors LLC now owns 6,197 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 687 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Globant by 2.1% during the first quarter. APG Asset Management N.V. now owns 9,700 shares of the information technology services provider’s stock valued at $852,000 after buying an additional 200 shares during the last quarter. 79.51% of the stock is owned by hedge funds and other institutional investors.
Shares of GLOB traded up $0.10 during mid-day trading on Tuesday, hitting $155.72. The stock had a trading volume of 9,481 shares, compared to its average volume of 580,170. The firm has a market cap of $5.72 billion, a P/E ratio of 107.01 and a beta of 1.37. The business has a fifty day moving average price of $142.08 and a 200-day moving average price of $117.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.56 and a quick ratio of 2.56. Globant SA has a 52 week low of $70.83 and a 52 week high of $161.17.
Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 14th. The information technology services provider reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Globant had a return on equity of 16.57% and a net margin of 7.82%. The company had revenue of $191.57 million for the quarter, compared to analyst estimates of $190.24 million. As a group, research analysts expect that Globant SA will post 1.72 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the company. Citigroup lifted their target price on Globant from $110.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Wedbush cut their target price on Globant from $150.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Itau BBA Securities cut Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Goldman Sachs Group boosted their price objective on Globant from $147.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Globant from a “sell” rating to a “hold” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Globant currently has a consensus rating of “Hold” and an average price target of $128.30.
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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