APG Asset Management N.V. Invests $852,000 in Globant SA (NYSE:GLOB)

APG Asset Management N.V. acquired a new position in shares of Globant SA (NYSE:GLOB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,600 shares of the information technology services provider’s stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLOB. William Blair Investment Management LLC grew its stake in shares of Globant by 32.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,331,175 shares of the information technology services provider’s stock worth $134,515,000 after acquiring an additional 326,331 shares in the last quarter. Wasatch Advisors Inc. grew its stake in shares of Globant by 15.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,183,891 shares of the information technology services provider’s stock worth $220,682,000 after acquiring an additional 289,133 shares in the last quarter. Axiom International Investors LLC DE bought a new stake in shares of Globant in the 2nd quarter worth $12,730,000. Northern Trust Corp grew its stake in shares of Globant by 87.1% in the 2nd quarter. Northern Trust Corp now owns 265,741 shares of the information technology services provider’s stock worth $26,853,000 after acquiring an additional 123,679 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Globant in the 2nd quarter worth $10,779,000. Hedge funds and other institutional investors own 83.28% of the company’s stock.

Shares of GLOB opened at $91.87 on Friday. The firm’s 50 day simple moving average is $94.96 and its 200 day simple moving average is $91.20. The company has a market capitalization of $3.34 billion, a P/E ratio of 66.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.26 and a quick ratio of 2.29. Globant SA has a 1-year low of $46.30 and a 1-year high of $112.33.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Globant had a net margin of 9.09% and a return on equity of 16.39%. The company had revenue of $157.50 million during the quarter, compared to analysts’ expectations of $157.50 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities analysts anticipate that Globant SA will post 1.77 earnings per share for the current year.

Several equities analysts recently weighed in on the stock. Cowen set a $116.00 price target on shares of Globant and gave the company a “buy” rating in a research report on Friday, August 16th. HSBC lowered shares of Globant from a “hold” rating to a “reduce” rating and increased their price target for the company from $52.00 to $80.00 in a research report on Tuesday, September 10th. Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a research report on Thursday. William Blair reiterated a “buy” rating on shares of Globant in a research report on Friday, August 16th. Finally, ValuEngine lowered shares of Globant from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $88.36.

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.

See Also: Diluted Earnings Per Share

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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