Quantinno Capital Management LP Has $5.86 Million Stock Holdings in Globant S.A. $GLOB

Quantinno Capital Management LP trimmed its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 68.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 127,079 shares of the information technology services provider's stock after selling 273,464 shares during the quarter. Quantinno Capital Management LP owned about 0.29% of Globant worth $5,860,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Signaturefd LLC lifted its position in Globant by 65.1% during the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 190 shares during the period. Allworth Financial LP increased its holdings in Globant by 473.3% in the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock valued at $32,000 after buying an additional 407 shares during the period. Larson Financial Group LLC raised its position in shares of Globant by 561.2% in the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider's stock valued at $45,000 after buying an additional 578 shares in the last quarter. MidFirst Bank bought a new stake in shares of Globant during the 4th quarter worth approximately $47,000. Finally, State of Wyoming lifted its holdings in shares of Globant by 78.9% during the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider's stock worth $80,000 after acquiring an additional 389 shares during the period. Institutional investors own 91.60% of the company's stock.

Globant Stock Up 0.5%

NYSE:GLOB opened at $38.33 on Thursday. Globant S.A. has a one year low of $27.56 and a one year high of $82.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market cap of $1.68 billion, a PE ratio of 15.58, a P/E/G ratio of 1.44 and a beta of 1.02. The firm's 50 day simple moving average is $34.09 and its 200 day simple moving average is $43.59.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Globant had a net margin of 4.46% and a return on equity of 9.87%. The firm had revenue of $607.09 million during the quarter, compared to the consensus estimate of $601.65 million. During the same quarter last year, the firm earned $1.50 earnings per share. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts anticipate that Globant S.A. will post 4.89 earnings per share for the current year.

Globant declared that its Board of Directors has initiated a share buyback program on Monday, May 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

GLOB has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Globant from $50.00 to $40.00 and set a "hold" rating on the stock in a research note on Friday, May 15th. Wedbush restated an "outperform" rating on shares of Globant in a research note on Monday, May 18th. William Blair lowered Globant from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Itau BBA Securities downgraded Globant from an "outperform" rating to a "market perform" rating and set a $39.00 price objective for the company. in a research report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft set a $33.00 target price on Globant in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $52.75.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant's service offerings span strategy consulting, custom software engineering, digital experience design and managed services.

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