ING Groep NV Makes New Investment in Globant S.A. $GLOB

ING Groep NV purchased a new stake in Globant S.A. (NYSE:GLOB) in the 3rd quarter, Holdings Channel reports. The firm purchased 150,880 shares of the information technology services provider’s stock, valued at approximately $8,657,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of 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 last quarter. Border to Coast Pensions Partnership Ltd raised its position in shares of Globant by 38.3% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 214,167 shares of the information technology services provider’s stock worth $12,289,000 after buying an additional 59,330 shares during the period. SG Americas Securities LLC boosted its holdings in Globant by 791.2% in the third quarter. SG Americas Securities LLC now owns 57,735 shares of the information technology services provider’s stock valued at $3,313,000 after acquiring an additional 51,257 shares during the last quarter. Hussman Strategic Advisors Inc. grew its position in Globant by 50.0% during the third quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the information technology services provider’s stock valued at $3,615,000 after acquiring an additional 21,000 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Globant by 546.2% during the third quarter. New York State Common Retirement Fund now owns 138,134 shares of the information technology services provider’s stock worth $7,926,000 after acquiring an additional 116,758 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

Globant stock opened at $55.46 on Thursday. The firm has a market capitalization of $2.44 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 6.52 and a beta of 1.19. Globant S.A. has a one year low of $54.36 and a one year high of $228.98. The stock’s 50 day moving average price is $66.49 and its 200 day moving average price is $65.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) 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 firm had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. During the same quarter in the prior year, the business earned $1.63 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GLOB shares. Citigroup raised Globant to a “hold” rating in a research note on Thursday, October 23rd. Truist Financial initiated coverage on shares of Globant in a report on Tuesday, January 6th. They issued a “hold” rating and a $72.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, November 14th. William Blair reiterated an “outperform” rating on shares of Globant in a research note on Wednesday, December 31st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.75.

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.