Globant S.A. $GLOB Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Globant S.A. (NYSE:GLOB) by 791.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,735 shares of the information technology services provider’s stock after acquiring an additional 51,257 shares during the period. SG Americas Securities LLC’s holdings in Globant were worth $3,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. boosted its stake in Globant by 199.1% during the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after purchasing an additional 1,881,940 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Globant by 34.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock worth $99,972,000 after buying an additional 280,081 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Globant by 20.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,006,175 shares of the information technology services provider’s stock valued at $91,401,000 after acquiring an additional 168,700 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Globant by 6,875.8% during the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock valued at $84,413,000 after purchasing an additional 915,924 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Globant by 218.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 432,602 shares of the information technology services provider’s stock worth $39,298,000 after acquiring an additional 296,888 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 1.3%

GLOB stock opened at $67.47 on Tuesday. The firm has a market cap of $2.97 billion, a PE ratio of 30.53, a PEG ratio of 6.30 and a beta of 1.21. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $228.98. The company has a fifty day simple moving average of $65.35 and a 200 day simple moving average of $68.63. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.02). Globant had a return on equity of 10.39% and a net margin of 4.01%.The business had revenue of $617.14 million for the quarter, compared to analyst estimates of $615.32 million. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant announced that its board has authorized a stock buyback program on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 14th. Wells Fargo & Company upgraded Globant to a “hold” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. lowered their target price on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Jefferies Financial Group lowered Globant from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $61.00 in a research report on Thursday, November 20th. Finally, Citigroup raised Globant to a “hold” rating in a research note on Thursday, October 23rd. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $97.00.

About Globant

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.