Matthews International Capital Management LLC Grows Stake in Globant S.A. (NYSE:GLOB)


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Matthews International Capital Management LLC grew its holdings in Globant S.A. (NYSE:GLOB) by 12.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,700 shares of the information technology services provider’s stock after buying an additional 300 shares during the quarter. Matthews International Capital Management LLC’s holdings in Globant were worth $588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC bought a new position in shares of Globant in the 3rd quarter worth approximately $33,000. Wedbush Securities Inc. raised its position in shares of Globant by 4.7% in the 3rd quarter. Wedbush Securities Inc. now owns 1,732 shares of the information technology services provider’s stock worth $310,000 after acquiring an additional 77 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Globant in the 3rd quarter worth approximately $1,440,000. Xponance Inc. raised its position in shares of Globant by 9.0% in the 3rd quarter. Xponance Inc. now owns 4,049 shares of the information technology services provider’s stock worth $726,000 after acquiring an additional 335 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Globant by 56.2% in the 3rd quarter. State of Michigan Retirement System now owns 115,600 shares of the information technology services provider’s stock worth $20,718,000 after acquiring an additional 41,600 shares in the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

GLOB has been the subject of several research reports. Jefferies Financial Group initiated coverage on Globant in a research report on Friday, December 4th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their price objective on Globant from $203.00 to $236.00 and gave the company an “overweight” rating in a research report on Friday. Zacks Investment Research lowered Globant from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. TheStreet raised Globant from a “c+” rating to a “b-” rating in a research report on Thursday, February 18th. Finally, Citigroup raised their price objective on Globant from $220.00 to $240.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Globant has an average rating of “Hold” and an average target price of $224.25.

Globant stock opened at $209.74 on Tuesday. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 170.35 and a beta of 1.24. The stock has a fifty day simple moving average of $213.80 and a two-hundred day simple moving average of $194.07. Globant S.A. has a 12 month low of $70.83 and a 12 month high of $244.72. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.09.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 18th. The information technology services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. Globant had a return on equity of 10.92% and a net margin of 6.40%. On average, equities research analysts forecast that Globant S.A. will post 1.76 EPS for the current fiscal year.

Globant Profile

Globant SA operates as a technology services company worldwide. The company offers machine learning, pattern recognition, and natural language understanding services. It also provides process appraisal, automated, process evolution, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, consultancy, fast prototyping, app evolution, platform integration, and hardware integration services.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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