Fox Run Management L.L.C. Makes New $1.28 Million Investment in Globant S.A. $GLOB

Fox Run Management L.L.C. bought a new position in Globant S.A. (NYSE:GLOB) during the second quarter, HoldingsChannel reports. The fund bought 14,041 shares of the information technology services provider’s stock, valued at approximately $1,275,000.

Several other large investors have also added to or reduced their stakes in GLOB. Invesco Ltd. lifted its stake in shares of Globant by 764.3% during the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider’s stock valued at $111,271,000 after buying an additional 835,859 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Globant by 293.5% during the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock valued at $117,716,000 after acquiring an additional 745,848 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Globant by 209.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider’s stock worth $96,583,000 after buying an additional 554,938 shares in the last quarter. Nuveen LLC purchased a new position in Globant in the first quarter worth about $58,163,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Globant by 73.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 549,328 shares of the information technology services provider’s stock worth $64,667,000 after purchasing an additional 233,145 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of GLOB stock opened at $60.53 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market cap of $2.67 billion, a P/E ratio of 24.61, a P/E/G ratio of 5.78 and a beta of 1.20. Globant S.A. has a one year low of $54.36 and a one year high of $238.32. The firm’s 50 day moving average price is $59.32 and its 200-day moving average price is $82.10.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The firm had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the prior year, the company earned $1.51 EPS. Globant’s revenue was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities research analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Globant announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 1st that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on GLOB shares. The Goldman Sachs Group dropped their target price on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. JPMorgan Chase & Co. lowered shares of Globant from an “overweight” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Friday, August 15th. Citigroup upgraded shares of Globant to a “hold” rating in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, July 17th. They issued a “hold” rating and a $87.00 target price for the company. Finally, Scotiabank raised Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price target on the stock in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $122.13.

Globant Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.