Penserra Capital Management LLC Trims Holdings in Globant SA (NYSE:GLOB)

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Penserra Capital Management LLC trimmed its position in Globant SA (NYSE:GLOB) by 10.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,480 shares of the information technology services provider’s stock after selling 16,168 shares during the quarter. Globant accounts for approximately 1.0% of Penserra Capital Management LLC’s holdings, making the stock its 16th biggest holding. Penserra Capital Management LLC owned about 0.36% of Globant worth $12,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLOB. FTB Advisors Inc. increased its stake in shares of Globant by 42.4% in the second quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock worth $37,000 after buying an additional 111 shares during the period. Tower Research Capital LLC TRC purchased a new position in Globant during the 3rd quarter valued at $55,000. NEXT Financial Group Inc increased its position in Globant by 15.3% during the 3rd quarter. NEXT Financial Group Inc now owns 1,569 shares of the information technology services provider’s stock valued at $144,000 after purchasing an additional 208 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Globant during the 2nd quarter valued at $152,000. Finally, Winslow Evans & Crocker Inc. increased its position in Globant by 1,182.4% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock valued at $192,000 after purchasing an additional 1,750 shares during the period. 80.37% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on GLOB. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Tuesday, November 19th. William Blair reissued a “buy” rating on shares of Globant in a research report on Friday, August 16th. Cowen set a $116.00 price objective on shares of Globant and gave the company a “buy” rating in a research report on Friday, August 16th. ValuEngine downgraded shares of Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, HSBC downgraded shares of Globant from a “hold” rating to a “reduce” rating and boosted their price objective for the company from $52.00 to $80.00 in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $94.11.

Shares of GLOB stock traded up $1.40 during mid-day trading on Wednesday, reaching $100.16. 221,435 shares of the company’s stock traded hands, compared to its average volume of 296,179. Globant SA has a 12 month low of $50.91 and a 12 month high of $112.33. The company has a market cap of $3.89 billion, a P/E ratio of 72.06 and a beta of 0.95. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $98.37 and its 200-day moving average price is $97.91.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, November 14th. The information technology services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.13. Globant had a net margin of 8.46% and a return on equity of 16.76%. The firm had revenue of $171.33 million for the quarter, compared to analysts’ expectations of $171.32 million. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Equities analysts predict that Globant SA will post 1.78 earnings per share for the current year.

About Globant

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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