Globant SA (GLOB) Shares Sold by Compass Group LLC

Compass Group LLC cut its position in Globant SA (NYSE:GLOB) by 24.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 802,532 shares of the information technology services provider’s stock after selling 264,596 shares during the quarter. Globant accounts for approximately 25.3% of Compass Group LLC’s investment portfolio, making the stock its 2nd biggest holding. Compass Group LLC’s holdings in Globant were worth $45,199,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Morgan Stanley grew its position in Globant by 8.0% during the third quarter. Morgan Stanley now owns 3,916,084 shares of the information technology services provider’s stock valued at $231,010,000 after buying an additional 289,250 shares during the period. Wasatch Advisors Inc. grew its position in Globant by 36.9% during the third quarter. Wasatch Advisors Inc. now owns 1,758,045 shares of the information technology services provider’s stock valued at $103,707,000 after buying an additional 474,011 shares during the period. Wells Fargo & Company MN grew its position in Globant by 10.5% during the third quarter. Wells Fargo & Company MN now owns 1,069,992 shares of the information technology services provider’s stock valued at $63,119,000 after buying an additional 101,451 shares during the period. Capital World Investors grew its position in Globant by 4.0% during the third quarter. Capital World Investors now owns 901,800 shares of the information technology services provider’s stock valued at $53,197,000 after buying an additional 35,072 shares during the period. Finally, William Blair Investment Management LLC grew its position in Globant by 52.3% during the third quarter. William Blair Investment Management LLC now owns 676,032 shares of the information technology services provider’s stock valued at $39,879,000 after buying an additional 232,283 shares during the period. 77.45% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on GLOB shares. JPMorgan Chase & Co. cut their target price on shares of Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, October 24th. Goldman Sachs Group started coverage on shares of Globant in a research report on Monday, November 19th. They set a “buy” rating and a $65.00 target price for the company. Cantor Fitzgerald restated a “hold” rating and set a $57.00 target price on shares of Globant in a research report on Friday, November 30th. SunTrust Banks boosted their target price on shares of Globant to $75.00 and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.25.

GLOB opened at $68.00 on Wednesday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 77.27 and a beta of 0.96. Globant SA has a 1-year low of $43.29 and a 1-year high of $69.90.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, November 15th. The information technology services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.01). The firm had revenue of $134.57 million during the quarter, compared to the consensus estimate of $132.72 million. Globant had a return on equity of 16.03% and a net margin of 10.53%. On average, sell-side analysts anticipate that Globant SA will post 1.48 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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