Engineers Gate Manager LP Purchases Shares of 2,234 Globant S.A. (NYSE:GLOB)

Engineers Gate Manager LP purchased a new stake in Globant S.A. (NYSE:GLOB – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,234 shares of the information technology services provider’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Globant by 1,068.8% in the 3rd quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 171 shares during the period. Advisors Asset Management Inc. purchased a new stake in Globant in the 1st quarter valued at about $72,000. Van ECK Associates Corp grew its holdings in Globant by 1,729.4% in the 3rd quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 294 shares during the period. Huntington National Bank grew its holdings in Globant by 60.0% in the 3rd quarter. Huntington National Bank now owns 416 shares of the information technology services provider’s stock valued at $78,000 after buying an additional 156 shares during the period. Finally, CWM LLC grew its holdings in shares of Globant by 18.7% during the 3rd quarter. CWM LLC now owns 458 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cowen decreased their target price on Globant from $210.00 to $207.00 and set an “outperform” rating for the company in a report on Friday, November 18th. Cowen decreased their target price on Globant from $207.00 to $192.00 in a report on Friday, February 17th. Citigroup decreased their target price on Globant from $270.00 to $225.00 and set a “buy” rating for the company in a report on Monday, November 21st. HSBC assumed coverage on Globant in a report on Thursday, February 2nd. They set a “buy” rating and a $240.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on Globant from $224.00 to $221.00 and set an “overweight” rating for the company in a report on Tuesday, February 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.11.

Globant Trading Down 5.3 %

Globant stock opened at $153.47 on Monday. Globant S.A. has a 52 week low of $151.63 and a 52 week high of $282.13. The stock has a market cap of $6.51 billion, a P/E ratio of 44.10 and a beta of 1.43. The stock has a 50 day moving average of $166.34 and a 200-day moving average of $179.07.

Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $490.72 million during the quarter, compared to analyst estimates of $489.67 million. Globant had a net margin of 8.36% and a return on equity of 12.09%. As a group, equities analysts predict that Globant S.A. will post 4.63 earnings per share for the current fiscal year.

About Globant

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Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.