State of New Jersey Common Pension Fund D Has $3 Million Position in Globant S.A. $GLOB

State of New Jersey Common Pension Fund D raised its holdings in Globant S.A. (NYSE:GLOB) by 9.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,970 shares of the information technology services provider’s stock after buying an additional 2,903 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Globant worth $2,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its stake in Globant by 194.4% in the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in Globant by 140.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 155 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Globant in the 1st quarter valued at $39,000. Signaturefd LLC increased its stake in Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 89 shares during the last quarter. Finally, State of Wyoming increased its holdings in Globant by 53.1% during the first quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock worth $58,000 after buying an additional 171 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Globant in a report on Wednesday, October 8th. JPMorgan Chase & Co. downgraded shares of Globant from an “overweight” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Friday, August 15th. Scotiabank upgraded shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 target price on the stock in a report on Monday, July 21st. UBS Group lowered their target price on shares of Globant from $120.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $122.13.

Globant Trading Up 4.8%

GLOB stock opened at $62.63 on Tuesday. The company has a fifty day moving average price of $60.73 and a two-hundred day moving average price of $85.00. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 5.69 and a beta of 1.17. Globant S.A. has a one year low of $54.36 and a one year high of $238.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71.

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

Globant announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.