Campbell & CO Investment Adviser LLC Reduces Stock Position in Globant SA (NYSE:GLOB)

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Campbell & CO Investment Adviser LLC lowered its stake in shares of Globant SA (NYSE:GLOB) by 35.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,094 shares of the information technology services provider’s stock after selling 1,736 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Globant were worth $283,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GLOB. Marshall Wace LLP acquired a new stake in shares of Globant during the 1st quarter valued at about $2,047,000. Xact Kapitalforvaltning AB acquired a new stake in Globant in the 2nd quarter worth approximately $303,000. Sheets Smith Wealth Management acquired a new stake in Globant in the 2nd quarter worth approximately $471,000. Navellier & Associates Inc lifted its holdings in Globant by 16.5% in the 2nd quarter. Navellier & Associates Inc now owns 21,873 shares of the information technology services provider’s stock worth $2,210,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. lifted its holdings in Globant by 1,182.4% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock worth $192,000 after purchasing an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors own 83.28% of the company’s stock.

Shares of NYSE GLOB opened at $97.78 on Monday. The business’s 50 day moving average is $93.47 and its two-hundred day moving average is $93.78. The company has a market cap of $3.64 billion, a P/E ratio of 70.35 and a beta of 0.90. Globant SA has a 12 month low of $46.30 and a 12 month high of $112.33.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The business had revenue of $157.50 million during the quarter, compared to the consensus estimate of $157.50 million. Globant had a return on equity of 16.39% and a net margin of 9.09%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Globant SA will post 1.77 earnings per share for the current year.

Several equities research analysts recently weighed in on the company. Cowen set a $116.00 target price on Globant and gave the stock a “buy” rating in a report on Friday, August 16th. William Blair restated a “buy” rating on shares of Globant in a report on Friday, August 16th. Zacks Investment Research lowered Globant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 16th. ValuEngine lowered Globant from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup lowered Globant from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $93.00 to $115.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.45.

Globant 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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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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