FDx Advisors Inc. Sells 1,830 Shares of Globant (GLOB)

FDx Advisors Inc. decreased its holdings in Globant (NYSE:GLOB) by 23.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,901 shares of the information technology services provider’s stock after selling 1,830 shares during the period. FDx Advisors Inc.’s holdings in Globant were worth $304,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Globant in the 4th quarter valued at about $172,000. California Public Employees Retirement System acquired a new stake in Globant in the 4th quarter valued at about $287,000. American Capital Management Inc. raised its holdings in Globant by 76.9% in the 4th quarter. American Capital Management Inc. now owns 11,480 shares of the information technology services provider’s stock valued at $533,000 after acquiring an additional 4,990 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Globant by 19.8% in the 4th quarter. Bank of New York Mellon Corp now owns 11,948 shares of the information technology services provider’s stock valued at $556,000 after acquiring an additional 1,971 shares during the last quarter. Finally, Bamco Inc. NY raised its holdings in Globant by 55.0% in the 4th quarter. Bamco Inc. NY now owns 13,977 shares of the information technology services provider’s stock valued at $649,000 after acquiring an additional 4,957 shares during the last quarter. Institutional investors own 71.38% of the company’s stock.

Shares of Globant opened at $50.81 on Friday, according to MarketBeat Ratings. The company has a market cap of $1.79 billion, a PE ratio of 55.33 and a beta of 0.57. Globant has a 1 year low of $49.75 and a 1 year high of $50.71.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, May 10th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.04. The business had revenue of $119.70 million during the quarter, compared to the consensus estimate of $113.96 million. Globant had a net margin of 7.32% and a return on equity of 13.11%. The business’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. research analysts forecast that Globant will post 1.22 earnings per share for the current fiscal year.

A number of analysts have commented on GLOB shares. Zacks Investment Research upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Friday, January 19th. JPMorgan Chase restated an “overweight” rating and set a $54.00 price target (up previously from $50.00) on shares of Globant in a report on Tuesday, February 20th. SunTrust Banks raised their price target on shares of Globant to $52.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. They noted that the move was a valuation call. ValuEngine downgraded shares of Globant from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, HSBC started coverage on shares of Globant in a report on Friday, April 20th. They set a “hold” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Globant has a consensus rating of “Buy” and a consensus price target of $48.38.

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.

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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