10 Cheap IT Stocks Hedge Funds Are Buying

7. Globant (NYSE:GLOB)

Forward P/E Ratio as of July 9: 15.2

Number of Hedge Fund Holders: 31

Globant (NYSE:GLOB) is one of the cheap IT stocks hedge funds are buying. On July 7, Globant announced a partnership with Suntory Global Spirits, which is a leader in premium spirits. The collaboration aims to build and deploy a gen AI-powered Commercial Insights Agent for Suntory Global Spirits. This AI Agent is designed to transform operations by compressing days of work into seconds and facilitating real-time decision-making.

The AI-powered Commercial Insights Agent can interpret complex business questions across dashboards, reports, and unstructured documentation. By automating insight retrieval, the agent is expected to reduce operating costs associated with traditional business intelligence workflows and decrease the time-to-action.

Additional benefits of the Commercial Insights Agent for Suntory Global Spirits include self-serve decision support at scale, which allows teams in different departments to independently access data insights, ask questions, or generate reports without dependencies on other teams. The agent is also trained on internal data to provide contextual GenAI recommendations.

Globant (NYSE:GLOB) provides technology services worldwide.