ARGA Investment Management LP Has $118.07 Million Holdings in Globant S.A. $GLOB

ARGA Investment Management LP raised its holdings in shares of Globant S.A. (NYSE:GLOB) by 14,073.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 makes up 3.1% of ARGA Investment Management LP’s investment portfolio, making the stock its 11th largest holding. ARGA Investment Management LP’s holdings in Globant were worth $118,065,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLOB. Park Avenue Securities LLC acquired a new stake in Globant in the 2nd quarter valued at $558,000. Lecap Asset Management Ltd. acquired a new stake in shares of Globant in the second quarter valued at about $1,855,000. Invesco Ltd. increased its position 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 purchasing an additional 1,881,940 shares during the last quarter. SG Americas Securities LLC raised its position in Globant by 791.2% during the third quarter. SG Americas Securities LLC now owns 57,735 shares of the information technology services provider’s stock worth $3,313,000 after acquiring an additional 51,257 shares in the last quarter. Finally, Entropy Technologies LP lifted its stake in Globant by 98.9% in the 2nd quarter. Entropy Technologies LP now owns 31,467 shares of the information technology services provider’s stock valued at $2,858,000 after purchasing an additional 15,648 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GLOB shares. Citigroup upgraded shares of Globant to a “hold” rating in a research note on Thursday, October 23rd. UBS Group reiterated a “neutral” rating and set a $75.00 price objective on shares of Globant in a research note on Monday. Needham & Company LLC dropped their price objective on Globant from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Truist Financial started coverage on shares of Globant in a research note on Tuesday, January 6th. They issued a “hold” rating and a $72.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Six investment 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. According to data from MarketBeat, Globant presently has an average rating of “Hold” and a consensus price target of $97.75.

Globant Price Performance

GLOB opened at $69.16 on Friday. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $228.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. The firm’s fifty day moving average price is $66.43 and its two-hundred day moving average price is $67.43. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 6.36 and a beta of 1.21.

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

Globant declared that its Board of Directors has approved a stock buyback program on Wednesday, October 1st that allows the company to buyback $125.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Globant Company 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.