Mirae Asset Global Investments Co. Ltd. Takes Position in Globant SA (GLOB)

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Globant SA (NYSE:GLOB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 73,303 shares of the information technology services provider’s stock, valued at approximately $4,324,000. Mirae Asset Global Investments Co. Ltd. owned about 0.20% of Globant as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can increased its position in Globant by 32.9% during the second quarter. Bank of Montreal Can now owns 3,640 shares of the information technology services provider’s stock worth $206,000 after buying an additional 901 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Globant by 48.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the information technology services provider’s stock worth $185,000 after buying an additional 1,064 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Globant by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 141,546 shares of the information technology services provider’s stock worth $8,037,000 after buying an additional 1,075 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Globant by 4.5% during the second quarter. Envestnet Asset Management Inc. now owns 29,698 shares of the information technology services provider’s stock worth $1,687,000 after buying an additional 1,277 shares in the last quarter. Finally, FDx Advisors Inc. increased its position in Globant by 20.4% during the third quarter. FDx Advisors Inc. now owns 7,563 shares of the information technology services provider’s stock worth $446,000 after buying an additional 1,284 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on GLOB shares. JPMorgan Chase & Co. dropped their price target on Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Cantor Fitzgerald reissued a “hold” rating and set a $57.00 price target on shares of Globant in a research report on Friday, November 30th. Goldman Sachs Group started coverage on Globant in a research report on Monday, November 19th. They set a “buy” rating and a $65.00 price target for the company. Finally, Citigroup raised their price target on Globant from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Globant has an average rating of “Buy” and a consensus target price of $61.50.

Globant stock opened at $53.75 on Friday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 44.79 and a beta of 0.85. Globant SA has a fifty-two week low of $39.07 and a fifty-two week high of $66.41.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 15th. The information technology services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $134.57 million for the quarter, compared to analysts’ expectations of $132.72 million. Globant had a return on equity of 16.03% and a net margin of 10.53%. As a group, sell-side analysts forecast that Globant SA will post 1.49 EPS for the current fiscal year.

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Globant Company 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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