Dimensional Fund Advisors LP Sells 92,532 Shares of Globant S.A. $GLOB

Dimensional Fund Advisors LP decreased its position in Globant S.A. (NYSE:GLOB) by 16.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 467,065 shares of the information technology services provider’s stock after selling 92,532 shares during the period. Dimensional Fund Advisors LP’s holdings in Globant were worth $21,536,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pzena Investment Management LLC acquired a new stake in Globant during the 1st quarter worth $136,893,000. Alliancebernstein L.P. lifted its holdings in Globant by 6,875.8% during the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock worth $84,413,000 after acquiring an additional 915,924 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Globant by 601.5% in the third quarter. BNP Paribas Financial Markets now owns 783,930 shares of the information technology services provider’s stock valued at $44,982,000 after acquiring an additional 672,175 shares during the period. Principal Financial Group Inc. grew its stake in Globant by 340.3% in the fourth quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock valued at $53,323,000 after acquiring an additional 630,440 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of Globant by 493.8% in the third quarter. Two Sigma Investments LP now owns 660,296 shares of the information technology services provider’s stock worth $37,888,000 after acquiring an additional 549,089 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

GLOB opened at $37.23 on Friday. The business’s 50-day moving average price is $34.04 and its two-hundred day moving average price is $43.37. Globant S.A. has a 1 year low of $27.56 and a 1 year high of $82.71. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.82 and a quick ratio of 1.82.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, meeting analysts’ consensus estimates of $1.50. The company had revenue of $607.09 million for the quarter, compared to analyst estimates of $601.65 million. Globant had a return on equity of 9.87% and a net margin of 4.46%.The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 earnings per share. Equities analysts expect that Globant S.A. will post 4.89 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GLOB shares. William Blair lowered Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Wedbush reiterated an “outperform” rating on shares of Globant in a research report on Monday, May 18th. Wells Fargo & Company lowered their target price on Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft set a $33.00 target price on shares of Globant in a report on Friday, July 10th. Finally, Canaccord Genuity Group cut their price target on shares of Globant from $50.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.75.

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.