Globant S.A. $GLOB Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in Globant S.A. (NYSE:GLOB) by 546.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,134 shares of the information technology services provider’s stock after purchasing an additional 116,758 shares during the period. New York State Common Retirement Fund owned 0.31% of Globant worth $7,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GLOB. Mirae Asset Global Investments Co. Ltd. increased its position in Globant by 57.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,724 shares of the information technology services provider’s stock worth $386,000 after buying an additional 2,464 shares during the period. Federated Hermes Inc. bought a new position in shares of Globant during the third quarter worth about $351,000. Hussman Strategic Advisors Inc. increased its holdings in shares of Globant by 50.0% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the information technology services provider’s stock worth $3,615,000 after acquiring an additional 21,000 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in Globant in the 3rd quarter valued at about $67,000. Finally, ARGA Investment Management LP lifted its position in Globant by 14,073.7% in the 3rd quarter. ARGA Investment Management LP now owns 2,057,594 shares of the information technology services provider’s stock valued at $118,065,000 after purchasing an additional 2,043,077 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GLOB. Truist Financial assumed coverage on shares of Globant in a research note on Tuesday, January 6th. They issued a “hold” rating and a $72.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. Needham & Company LLC reduced their price target on Globant from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, UBS Group reissued a “neutral” rating and set a $75.00 price target on shares of Globant in a report on Monday, January 19th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Globant has an average rating of “Hold” and a consensus target price of $97.75.

Globant Price Performance

Shares of NYSE GLOB opened at $60.29 on Thursday. Globant S.A. has a twelve month low of $54.36 and a twelve month high of $228.98. 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 firm has a 50-day moving average of $67.13 and a two-hundred day moving average of $66.12. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 6.26 and a beta of 1.19.

Globant (NYSE:GLOB) last released its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). Globant had a return on equity of 10.39% and a net margin of 4.01%.The business had revenue of $617.14 million during the quarter, compared to the consensus estimate of $615.32 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter 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. As a group, analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant 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.