Border to Coast Pensions Partnership Ltd Acquires 59,330 Shares of Globant S.A. $GLOB

Border to Coast Pensions Partnership Ltd increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 38.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 214,167 shares of the information technology services provider’s stock after acquiring an additional 59,330 shares during the period. Border to Coast Pensions Partnership Ltd owned about 0.49% of Globant worth $12,289,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Invesco Ltd. increased its stake in Globant by 199.1% in the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock worth $256,819,000 after purchasing an additional 1,881,940 shares during the period. ARGA Investment Management LP grew its holdings in shares of Globant by 14,073.7% in the third quarter. ARGA Investment Management LP now owns 2,057,594 shares of the information technology services provider’s stock worth $118,065,000 after purchasing an additional 2,043,077 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in Globant by 34.1% in 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 buying an additional 280,081 shares during the period. Schroder Investment Management Group lifted its holdings in Globant by 20.1% during the 2nd 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Globant by 6,875.8% during the 2nd 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 in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Trading Up 3.8%

Shares of NYSE:GLOB opened at $60.29 on Thursday. Globant S.A. has a 52-week low of $54.36 and a 52-week high of $228.98. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 6.26 and a beta of 1.19. The business has a 50-day moving average price of $67.13 and a 200-day moving average price of $66.12.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $615.32 million. During the same quarter in the previous year, the business posted $1.63 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Equities analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GLOB shares. JPMorgan Chase & Co. dropped their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. UBS Group reissued a “neutral” rating and set a $75.00 price target on shares of Globant in a research report on Monday, January 19th. Canaccord Genuity Group decreased their price objective on Globant from $80.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 14th. Wells Fargo & Company raised their price objective on Globant from $61.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Globant currently has a consensus rating of “Hold” and an average price target of $97.75.

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.