Cooke & Bieler LP Acquires New Holdings in Globant S.A. $GLOB

Cooke & Bieler LP bought a new position in Globant S.A. (NYSE:GLOB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 259,010 shares of the information technology services provider’s stock, valued at approximately $16,931,000.

A number of other large investors have also added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings 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 worth $32,000 after acquiring an additional 190 shares during the period. Allworth Financial LP grew its stake in shares of Globant by 473.3% during the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 407 shares during the period. Larson Financial Group LLC grew its stake in shares of Globant by 561.2% during the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 578 shares during the period. GAMMA Investing LLC increased its position in shares of Globant by 34.3% during the 4th quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock valued at $47,000 after purchasing an additional 182 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Globant by 78.9% in the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider’s stock worth $80,000 after purchasing an additional 389 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Trading Up 0.0%

Shares of Globant stock opened at $40.14 on Tuesday. Globant S.A. has a fifty-two week low of $32.50 and a fifty-two week high of $105.43. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market capitalization of $1.76 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.04. The company has a fifty day moving average of $43.48 and a 200 day moving average of $55.05.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. The business had revenue of $607.09 million for 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%.The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 earnings per share. On average, sell-side analysts anticipate that Globant S.A. will post 4.96 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

GLOB has been the subject of several recent research reports. Susquehanna cut their target price on shares of Globant from $90.00 to $78.00 and set a “positive” rating for the company in a research report on Friday, May 15th. TD Cowen decreased their price target on shares of Globant from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Truist Financial dropped their price target on shares of Globant from $54.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Wedbush reaffirmed an “outperform” rating on shares of Globant in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. lowered their target price on Globant from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Globant presently has a consensus rating of “Hold” and a consensus target price of $64.81.

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.