Hussman Strategic Advisors Inc. Purchases 21,000 Shares of Globant S.A. $GLOB

Hussman Strategic Advisors Inc. increased its position in Globant S.A. (NYSE:GLOB) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 63,000 shares of the information technology services provider’s stock after buying an additional 21,000 shares during the period. Globant comprises approximately 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 14th largest position. Hussman Strategic Advisors Inc. owned 0.14% of Globant worth $3,615,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Allworth Financial LP lifted its position 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 acquiring an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Globant by 352.0% in 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. boosted its stake in Globant by 27,766.7% in 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 grew its holdings in Globant by 35.4% during the 3rd quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock valued at $49,000 after buying an additional 225 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Globant by 105.5% during the third quarter. Covestor Ltd now owns 1,005 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLOB. The Goldman Sachs Group dropped their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Citigroup raised shares of Globant to a “hold” rating in a report on Thursday, October 23rd. Jefferies Financial Group cut Globant from a “buy” rating to a “hold” rating and reduced their target price for the stock from $80.00 to $61.00 in a report on Thursday, November 20th. Truist Financial began coverage on Globant in a research report on Tuesday, January 6th. They issued a “hold” rating and a $72.00 target price on the stock. Finally, William Blair restated an “outperform” rating on shares of Globant in a report on Wednesday, December 31st. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.75.

Globant Stock Down 0.0%

Shares of NYSE GLOB opened at $69.17 on Wednesday. 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 S.A. has a 12-month low of $54.36 and a 12-month high of $228.98. The firm’s 50-day moving average price is $66.81 and its 200-day moving average price is $66.83. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 6.38 and a beta of 1.21.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.02). The company had revenue of $617.14 million for the quarter, compared to the consensus estimate of $615.32 million. Globant had a return on equity of 10.39% and a net margin of 4.01%.The company’s revenue was up .4% compared to the same quarter last year. 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 research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant declared that its board has authorized a share buyback 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 stock through open market purchases. Stock buyback plans are usually a sign 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.