Globant S.A. $GLOB Shares Sold by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. cut its stake in Globant S.A. (NYSE:GLOB) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,487 shares of the information technology services provider’s stock after selling 22,469 shares during the quarter. Globant comprises approximately 0.5% of BW Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 19th biggest position. BW Gestao de Investimentos Ltda.’s holdings in Globant were worth $23,500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GLOB. Alliancebernstein L.P. increased its stake in shares of 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 worth $84,413,000 after acquiring an additional 915,924 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Globant by 601.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 783,930 shares of the information technology services provider’s stock worth $44,982,000 after purchasing an additional 672,175 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Globant by 340.3% during the 4th quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock worth $53,323,000 after purchasing an additional 630,440 shares during the period. Two Sigma Investments LP grew its holdings in shares of Globant by 493.8% during the 3rd quarter. Two Sigma Investments LP now owns 660,296 shares of the information technology services provider’s stock worth $37,888,000 after purchasing an additional 549,089 shares during the period. Finally, Barclays PLC grew its holdings in shares of Globant by 1,093.6% during the 3rd quarter. Barclays PLC now owns 453,331 shares of the information technology services provider’s stock worth $26,012,000 after purchasing an additional 415,351 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLOB has been the subject of a number of research analyst reports. Susquehanna lowered their price target on Globant from $90.00 to $78.00 and set a “positive” rating for the company in a report on Friday, May 15th. Truist Financial lowered their price target on Globant from $54.00 to $44.00 and set a “hold” rating for the company in a report on Friday, May 15th. The Goldman Sachs Group lowered their price target on Globant from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 15th. UBS Group lowered their price target on Globant from $75.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Finally, Wedbush reiterated an “outperform” rating on shares of Globant in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.81.

Globant Stock Performance

NYSE GLOB opened at $44.41 on Tuesday. The company has a market cap of $1.95 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a 50-day moving average of $43.06 and a two-hundred day moving average of $54.31. Globant S.A. has a 1-year low of $32.50 and a 1-year high of $105.43.

Globant (NYSE:GLOB) last released its earnings results on Friday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $607.09 million during the quarter, compared to the consensus estimate of $601.66 million. Globant had a return on equity of 9.87% and a net margin of 4.46%.Globant’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. As a group, analysts anticipate that Globant S.A. will post 4.96 EPS for the current year.

Globant declared that its board has authorized a stock repurchase plan on Monday, May 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is 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.