The Manufacturers Life Insurance Company Buys Shares of 305,287 Globant S.A. $GLOB

The Manufacturers Life Insurance Company bought a new position in Globant S.A. (NYSE:GLOB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 305,287 shares of the information technology services provider’s stock, valued at approximately $8,835,000. The Manufacturers Life Insurance Company owned 0.70% of Globant at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Maxi Investments CY Ltd bought a new stake in shares of Globant in the fourth quarter valued at about $2,255,000. Principal Financial Group Inc. grew its holdings in Globant by 340.3% during the 4th quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock worth $53,323,000 after acquiring an additional 630,440 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in Globant during the 4th quarter valued at about $5,095,000. Lazard Asset Management LLC increased its position in Globant by 113.5% during the 1st quarter. Lazard Asset Management LLC now owns 326,027 shares of the information technology services provider’s stock valued at $15,033,000 after purchasing an additional 173,302 shares during the period. Finally, ABN Amro Investment Solutions bought a new stake in shares of Globant in the 1st quarter valued at about $10,146,000. Institutional investors own 91.60% of the company’s stock.

Globant Stock Up 1.0%

Shares of GLOB stock opened at $40.58 on Friday. The stock’s fifty day moving average price is $34.50 and its 200 day moving average price is $40.58. Globant S.A. has a 1-year low of $27.56 and a 1-year high of $72.10. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). The business had revenue of $614.42 million during the quarter, compared to analysts’ expectations of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 earnings per share. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. On average, research analysts expect that Globant S.A. will post 4.65 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has initiated a stock repurchase program on Monday, May 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Wanda Weigert sold 6,000 shares of Globant stock in a transaction on Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the sale, the insider directly owned 64,046 shares in the company, valued at approximately $2,590,660.70. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Diego Tartara sold 6,000 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $40.45, for a total value of $242,700.00. Following the completion of the transaction, the chief technology officer directly owned 72,320 shares in the company, valued at approximately $2,925,344. The trade was a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Susquehanna lowered their price target on shares of Globant from $78.00 to $70.00 and set a “positive” rating for the company in a research report on Friday, August 14th. Needham & Company LLC dropped their target price on Globant from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Guggenheim reduced their price target on Globant from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Citigroup dropped their price objective on Globant from $42.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Finally, UBS Group set a $38.00 target price on Globant in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.38.

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.