Voya Investment Management LLC Has $9.35 Million Stock Position in Globant S.A. $GLOB

Voya Investment Management LLC lessened its stake in shares of Globant S.A. (NYSE:GLOB) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,898 shares of the information technology services provider’s stock after selling 99,655 shares during the period. Voya Investment Management LLC owned about 0.37% of Globant worth $9,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GLOB. Brooklyn Investment Group raised its holdings in shares of Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares during the period. Allworth Financial LP grew its position in Globant by 214.1% during the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. State of Wyoming raised its stake in Globant by 53.1% during the 1st quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 171 shares during the period. CWM LLC lifted its holdings in shares of Globant by 30.1% in the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 147 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Globant by 33.2% in the second quarter. GAMMA Investing LLC now owns 988 shares of the information technology services provider’s stock worth $90,000 after buying an additional 246 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on GLOB shares. Canaccord Genuity Group dropped their price target on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 14th. Wells Fargo & Company raised Globant to a “hold” rating in a research note on Wednesday, October 22nd. Citigroup raised shares of Globant to a “hold” rating in a research report on Thursday, October 23rd. UBS Group restated a “neutral” rating and set a $70.00 price target on shares of Globant in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. lowered their price objective 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. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.67.

Globant Trading Down 1.9%

NYSE:GLOB opened at $66.94 on Wednesday. The company has a market capitalization of $2.95 billion, a P/E ratio of 30.29, a P/E/G ratio of 6.44 and a beta of 1.24. The stock’s 50 day moving average price is $63.19 and its 200 day moving average price is $71.20. 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 S.A. has a 52 week low of $54.36 and a 52 week high of $228.98.

Globant (NYSE:GLOB) last posted its earnings results 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 business had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. During the same quarter last year, the firm earned $1.63 earnings per share. Globant’s revenue 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. On average, research analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant declared that its board has authorized a stock buyback plan on Wednesday, October 1st that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.