D. E. Shaw & Co. Inc. decreased its stake in Globant SA (NYSE:GLOB) by 73.6% in the 4th quarter, Holdings Channel reports. The firm owned 18,633 shares of the information technology services provider’s stock after selling 51,914 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Globant were worth $1,049,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Claybrook Capital LLC bought a new stake in Globant during the 4th quarter worth approximately $26,000. Daiwa Securities Group Inc. acquired a new position in Globant in the 4th quarter valued at approximately $28,000. We Are One Seven LLC acquired a new position in Globant in the 4th quarter valued at approximately $118,000. Quantbot Technologies LP bought a new position in shares of Globant during the third quarter valued at $175,000. Finally, Caxton Associates LP bought a new position in shares of Globant during the third quarter valued at $217,000. 79.64% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on GLOB. Zacks Investment Research cut shares of Globant from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Friday, January 4th. Itau BBA Securities downgraded Globant from an “outperform” rating to a “market perform” rating in a report on Friday, February 15th. Wedbush raised their target price on Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. ValuEngine raised Globant from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Finally, SunTrust Banks upped their price target on Globant to $75.00 and gave the company a “buy” rating in a research report on Tuesday, January 29th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Globant presently has a consensus rating of “Buy” and a consensus target price of $64.75.
Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. Globant had a net margin of 9.89% and a return on equity of 16.40%. The firm had revenue of $140.14 million for the quarter, compared to the consensus estimate of $139.32 million. During the same quarter in the previous year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. Equities research analysts forecast that Globant SA will post 1.72 earnings per share for the current fiscal year.
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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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