Globant (NYSE:GLOB – Get Free Report) declared that its board has approved a share buyback plan on Wednesday, October 1st, RTT News reports. This buyback authorization authorizes the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. About GlobantGet Free Report)Globant SA, together with its subsidiaries, provides technology services worldwide.