Border to Coast Pensions Partnership Ltd Acquires 63,127 Shares of Globant S.A. $GLOB

Border to Coast Pensions Partnership Ltd increased its holdings in Globant S.A. (NYSE:GLOB) by 25.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,451 shares of the information technology services provider’s stock after buying an additional 63,127 shares during the period. Border to Coast Pensions Partnership Ltd owned 0.70% of Globant worth $14,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Signaturefd LLC increased its stake in Globant by 65.1% during the 4th 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 raised its holdings in Globant by 473.3% in the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 407 shares in the last quarter. Larson Financial Group LLC lifted its position 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 acquiring an additional 578 shares during the period. GAMMA Investing LLC lifted 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 acquiring an additional 182 shares during the period. Finally, MidFirst Bank bought a new stake in shares of Globant during the 4th quarter valued at $47,000. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on Globant from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Needham & Company LLC cut their price objective on shares of Globant from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Truist Financial reduced their price objective 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. TD Cowen decreased their target price on shares of Globant from $74.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Wedbush reissued an “outperform” rating on shares of Globant in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $64.81.

Globant Trading Up 8.2%

Shares of GLOB stock opened at $30.00 on Friday. Globant S.A. has a fifty-two week low of $27.56 and a fifty-two week high of $95.26. The stock’s fifty day moving average price is $38.91 and its two-hundred day moving average price is $50.57. 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 cap of $1.32 billion, a PE ratio of 12.20, a P/E/G ratio of 1.10 and a beta of 1.02.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, hitting analysts’ consensus estimates of $1.50. The company had revenue of $607.09 million during the quarter, compared to analysts’ expectations of $601.65 million. Globant had a return on equity of 9.87% and a net margin of 4.46%.Globant’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. Equities analysts predict that Globant S.A. will post 4.94 EPS for the current fiscal year.

Globant declared that its Board of Directors has approved a stock buyback plan on Monday, May 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy 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 shares are 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.