Mackenzie Financial Corp Buys 46,400 Shares of Globant SA (NYSE:GLOB)

Mackenzie Financial Corp boosted its stake in Globant SA (NYSE:GLOB) by 12.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 428,819 shares of the information technology services provider’s stock after buying an additional 46,400 shares during the quarter. Mackenzie Financial Corp owned approximately 1.23% of Globant worth $17,183,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Capital World Investors lifted its stake in Globant by 0.4% in the 2nd quarter. Capital World Investors now owns 3,009,468 shares of the information technology services provider’s stock valued at $130,731,000 after buying an additional 12,293 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Globant by 13.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,580,601 shares of the information technology services provider’s stock worth $112,101,000 after purchasing an additional 297,985 shares during the period. Riverbridge Partners LLC lifted its stake in shares of Globant by 63.5% during the 3rd quarter. Riverbridge Partners LLC now owns 1,625,091 shares of the information technology services provider’s stock worth $65,117,000 after purchasing an additional 631,089 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of Globant by 6.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,531,564 shares of the information technology services provider’s stock worth $66,531,000 after purchasing an additional 94,412 shares during the period. Finally, Grandeur Peak Global Advisors LLC lifted its stake in shares of Globant by 0.8% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock worth $22,633,000 after purchasing an additional 3,975 shares during the period. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GLOB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Globant from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 22nd. KeyCorp reissued a “hold” rating on shares of Globant in a research note on Thursday, September 28th. BidaskClub upgraded Globant from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. SunTrust Banks restated a “hold” rating on shares of Globant in a report on Sunday, October 22nd. Finally, Cowen restated a “buy” rating and set a $50.00 price objective on shares of Globant in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Globant presently has a consensus rating of “Hold” and an average price target of $44.83.

Globant SA (GLOB) traded up $0.77 during mid-day trading on Friday, hitting $46.46. The stock had a trading volume of 349,337 shares, compared to its average volume of 210,872. The firm has a market cap of $1,603.72, a P/E ratio of 56.66 and a beta of 0.83. Globant SA has a 1-year low of $30.90 and a 1-year high of $47.51.

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Globant 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.

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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