Capital World Investors Takes Position in Globant S.A. $GLOB

Capital World Investors acquired a new stake in Globant S.A. (NYSE:GLOB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 272,952 shares of the information technology services provider’s stock, valued at approximately $17,843,000. Capital World Investors owned 0.62% of Globant at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Globant by 34.3% in the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock valued at $47,000 after acquiring an additional 182 shares during the period. Signaturefd LLC boosted its position in shares of Globant by 65.1% in the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 190 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Globant by 7.2% in the fourth quarter. Sanctuary Advisors LLC now owns 3,801 shares of the information technology services provider’s stock valued at $248,000 after acquiring an additional 255 shares during the period. CWM LLC boosted its position in shares of Globant by 33.7% in the fourth quarter. CWM LLC now owns 1,151 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 290 shares during the period. Finally, State of Wyoming boosted its position in shares of Globant by 38.9% in the third quarter. State of Wyoming now owns 1,225 shares of the information technology services provider’s stock valued at $70,000 after acquiring an additional 343 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Stock Down 2.2%

Shares of GLOB stock opened at $37.33 on Wednesday. The stock has a market cap of $1.64 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. Globant S.A. has a one year low of $32.50 and a one year high of $105.43. The stock has a fifty day moving average price of $42.44 and a 200 day moving average price of $53.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.82 and a quick ratio of 1.82.

Globant (NYSE:GLOB) last released its quarterly earnings data on Friday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. Globant had a return on equity of 9.87% and a net margin of 4.46%.The firm had revenue of $607.09 million during the quarter, compared to analyst estimates of $601.66 million. During the same period in the prior year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts predict that Globant S.A. will post 4.93 earnings per share for the current year.

Globant declared that its board has initiated a stock repurchase program on Monday, May 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently commented on GLOB shares. Needham & Company LLC reduced their target price on Globant from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Wells Fargo & Company reduced their target price on Globant from $57.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, March 27th. Truist Financial reduced their target price on Globant from $54.00 to $44.00 and set a “hold” rating for the company in a research report on Friday, May 15th. UBS Group reduced their target price on Globant from $75.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Finally, Canaccord Genuity Group reduced their target price on Globant from $50.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Globant has a consensus rating of “Hold” and an average price target of $64.81.

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.