Y Intercept Hong Kong Ltd Has $4.28 Million Holdings in Globant S.A. $GLOB

Y Intercept Hong Kong Ltd grew its holdings in Globant S.A. (NYSE:GLOB) by 114.1% in the 3rd quarter, Holdings Channel reports. The fund owned 74,531 shares of the information technology services provider’s stock after purchasing an additional 39,722 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Globant were worth $4,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. boosted its holdings in Globant by 199.1% in the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after purchasing an additional 1,881,940 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Globant by 34.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock worth $99,972,000 after purchasing an additional 280,081 shares during the period. Schroder Investment Management Group raised its position in shares of Globant by 20.1% during the second quarter. Schroder Investment Management Group now owns 1,006,175 shares of the information technology services provider’s stock valued at $91,401,000 after buying an additional 168,700 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Globant by 6,875.8% in the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock valued at $84,413,000 after buying an additional 915,924 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Globant by 218.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 432,602 shares of the information technology services provider’s stock valued at $39,298,000 after buying an additional 296,888 shares during the period. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GLOB shares. UBS Group restated a “neutral” rating and set a $75.00 price target on shares of Globant in a research note on Monday, January 19th. Jefferies Financial Group lowered Globant from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $80.00 to $61.00 in a report on Thursday, November 20th. Wells Fargo & Company upped their target price on Globant from $61.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group reduced their target price on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, Needham & Company LLC decreased their price target on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $97.75.

Globant Trading Up 0.2%

Shares of GLOB opened at $69.16 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.05 billion, a PE ratio of 31.30, a PEG ratio of 6.36 and a beta of 1.21. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $228.98. The stock has a 50 day simple moving average of $66.43 and a 200-day simple moving average of $67.07.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The company had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. During the same period in the prior year, the firm earned $1.63 EPS. Globant’s quarterly revenue was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. On average, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 1st that permits the company to buyback $125.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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.