ARGA Investment Management LP Increases Stock Holdings in Globant S.A. $GLOB

ARGA Investment Management LP lifted its position in shares of Globant S.A. (NYSE:GLOB) by 14,073.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,057,594 shares of the information technology services provider’s stock after acquiring an additional 2,043,077 shares during the quarter. Globant accounts for approximately 3.1% of ARGA Investment Management LP’s portfolio, making the stock its 11th largest holding. ARGA Investment Management LP owned about 4.67% of Globant worth $118,065,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Globant by 352.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 352 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Globant by 27,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 833 shares during the period. CWM LLC increased its holdings in shares of Globant by 35.4% in the 3rd quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock valued at $49,000 after purchasing an additional 225 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Globant by 105.5% in the third quarter. Covestor Ltd now owns 1,005 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 516 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on GLOB shares. Citigroup upgraded shares of Globant to a “hold” rating in a research report on Thursday, October 23rd. Needham & Company LLC decreased their price target on Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. JPMorgan Chase & Co. dropped their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. UBS Group reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Globant in a report on Monday. Finally, Truist Financial assumed coverage on Globant in a report on Tuesday, January 6th. They issued a “hold” rating and a $72.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Globant has a consensus rating of “Hold” and a consensus price target of $97.75.

Globant Trading Up 0.2%

NYSE GLOB opened at $69.16 on Friday. The company has a 50-day simple moving average of $66.43 and a 200-day simple moving average of $67.43. The firm has a market capitalization of $3.05 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 6.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. Globant S.A. has a one year low of $54.36 and a one year high of $228.98.

Globant (NYSE:GLOB) last released its 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). The firm had revenue of $617.14 million for the quarter, compared to analyst estimates of $615.32 million. Globant had a return on equity of 10.39% and a net margin of 4.01%.Globant’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. On average, equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

Globant announced that its Board of Directors has approved a stock buyback program on Wednesday, October 1st that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.