Bank of New York Mellon Corp Makes New $4.39 Million Investment in Globant S.A. $GLOB

Key Points

• Bank of New York Mellon acquired 151,655 Globant shares worth approximately $4.39 million, giving it a 0.35% stake; institutional investors collectively own 91.6% of the company.
• Analyst sentiment is broadly cautious, with 11 Hold, five Buy and two Sell ratings. The average price target is $46.38, although several firms recently lowered their targets to between $35 and $42.
• Globant missed quarterly earnings expectations, reporting $1.40 in EPS versus the $1.50 consensus, while revenue reached $614.42 million. Insiders have sold 14,500 shares worth $585,400 over the past three months, while the company has authorized a $50 million share buyback.

Bank of New York Mellon Corp acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 151,655 shares of the information technology services provider's stock, valued at approximately $4,389,000. Bank of New York Mellon Corp owned about 0.35% of Globant at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GLOB. Sanctuary Advisors LLC lifted its position in Globant by 7.2% during the fourth quarter. Sanctuary Advisors LLC now owns 3,801 shares of the information technology services provider's stock worth $248,000 after acquiring an additional 255 shares during the last quarter. CWM LLC grew its position in shares of Globant by 33.7% in the fourth quarter. CWM LLC now owns 1,151 shares of the information technology services provider's stock valued at $75,000 after purchasing an additional 290 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Globant by 27.1% during the first quarter. Parallel Advisors LLC now owns 1,735 shares of the information technology services provider's stock worth $80,000 after purchasing an additional 370 shares during the period. IHT Wealth Management LLC increased its stake in shares of Globant by 9.4% during the second quarter. IHT Wealth Management LLC now owns 4,390 shares of the information technology services provider's stock worth $399,000 after purchasing an additional 376 shares during the period. Finally, Sora Investors LLC lifted its holdings in Globant by 0.4% during the 4th quarter. Sora Investors LLC now owns 85,714 shares of the information technology services provider's stock worth $5,603,000 after purchasing an additional 379 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Globant from $50.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. UBS Group set a $38.00 price target on shares of Globant in a research report on Friday, August 14th. Canaccord Genuity Group set a $35.00 price objective on shares of Globant in a research note on Friday, August 14th. Truist Financial decreased their target price on shares of Globant from $44.00 to $38.00 and set a "hold" rating on the stock in a research report on Friday, August 14th. Finally, Citigroup cut their price target on Globant from $42.00 to $37.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.38.

Insider Activity

In related news, CRO Fernando Matzkin sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive owned 71,608 shares in the company, valued at $2,864,320. This trade represents a 3.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Diego Tartara sold 6,000 shares of Globant stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the sale, the chief technology officer owned 72,320 shares in the company, valued at approximately $2,925,344. This represents a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 14,500 shares of company stock valued at $585,400. 2.67% of the stock is currently owned by corporate insiders.

Globant Price Performance

Shares of NYSE:GLOB opened at $39.21 on Friday. Globant S.A. has a one year low of $27.56 and a one year high of $72.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 2.53 and a beta of 0.98. The firm has a 50 day simple moving average of $35.56 and a 200 day simple moving average of $40.05.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.10). The company had revenue of $614.42 million for the quarter, compared to analyst estimates of $612.86 million. Globant had a return on equity of 9.28% and a net margin of 4.63%.The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $1.53 earnings per share. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. Research analysts predict that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has initiated a share buyback program on Monday, May 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Globant Company 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.

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