SG Americas Securities LLC bought a new position in shares of Globant SA (NYSE:GLOB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 3,707 shares of the information technology services provider’s stock, valued at approximately $172,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FDx Advisors Inc. acquired a new stake in Globant in the 3rd quarter worth about $335,000. Advisor Group Inc. acquired a new stake in Globant in the 3rd quarter worth about $141,000. Bank of New York Mellon Corp raised its stake in Globant by 46.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,977 shares of the information technology services provider’s stock worth $400,000 after purchasing an additional 3,152 shares in the last quarter. Comgest Global Investors S.A.S. acquired a new stake in Globant in the 3rd quarter worth about $1,802,000. Finally, Quantbot Technologies LP acquired a new stake in Globant in the 3rd quarter worth about $270,000. Institutional investors own 68.13% of the company’s stock.
Globant SA (GLOB) opened at $52.04 on Wednesday. Globant SA has a 1-year low of $33.56 and a 1-year high of $53.47. The company has a market cap of $1,836.08, a PE ratio of 60.13 and a beta of 0.51.
Several analysts have weighed in on GLOB shares. Zacks Investment Research upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $36.00 price objective (down previously from $42.00) on shares of Globant in a research note on Friday, November 17th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Globant in a research note on Tuesday, February 20th. SunTrust Banks lifted their price objective on shares of Globant to $52.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Globant has a consensus rating of “Hold” and a consensus price target of $49.57.
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.
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