Diversified Trust Co Purchases New Position in Globant S.A. $GLOB

Diversified Trust Co purchased a new position in Globant S.A. (NYSE:GLOB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,049 shares of the information technology services provider’s stock, valued at approximately $634,000.

Several other institutional investors also recently bought and sold shares of GLOB. Invesco Ltd. raised its stake in shares of Globant by 199.1% during the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock worth $256,819,000 after buying an additional 1,881,940 shares during the period. Alliancebernstein L.P. grew its stake in Globant by 6,875.8% in the 2nd quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock valued at $84,413,000 after acquiring an additional 915,924 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Globant by 218.8% in the 2nd 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. Westfield Capital Management Co. LP raised its position in Globant by 34.1% during the second 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 acquiring an additional 280,081 shares during the period. Finally, BW Gestao de Investimentos Ltda. raised its position in Globant by 133.5% during the second quarter. BW Gestao de Investimentos Ltda. now owns 427,828 shares of the information technology services provider’s stock worth $38,864,000 after acquiring an additional 244,628 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Down 3.3%

GLOB stock opened at $63.24 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $64.41 and a two-hundred day moving average of $69.79. Globant S.A. has a 12 month low of $54.36 and a 12 month high of $228.98. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 6.00 and a beta of 1.21.

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

Globant declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 1st that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GLOB shares. Wells Fargo & Company upgraded shares of Globant to a “hold” rating in a research report on Wednesday, October 22nd. UBS Group reiterated a “neutral” rating and issued a $70.00 price objective on shares of Globant in a report on Tuesday, December 2nd. JPMorgan Chase & Co. reduced their target price on Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Jefferies Financial Group downgraded Globant from a “buy” rating to a “hold” rating and decreased their target price for the company from $80.00 to $61.00 in a research report on Thursday, November 20th. Finally, Citigroup upgraded Globant to a “hold” rating in a research report on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $98.67.

Globant 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.