Logan Capital Management Inc. Trims Holdings in Globant S.A. $GLOB

Logan Capital Management Inc. cut its stake in Globant S.A. (NYSE:GLOB) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,235 shares of the information technology services provider’s stock after selling 218 shares during the quarter. Logan Capital Management Inc.’s holdings in Globant were worth $385,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GLOB. Brooklyn Investment Group grew its position in shares of Globant by 194.4% in the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. grew its position in shares of Globant by 140.9% in the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of Globant in the first quarter valued at $39,000. Signaturefd LLC grew its position in shares of Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 89 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Globant by 53.1% in the first quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 171 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Trading Down 3.1%

Shares of GLOB stock opened at $60.72 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $60.57 and a two-hundred day moving average price of $84.69. Globant S.A. has a 12-month low of $54.36 and a 12-month high of $238.32. The firm has a market cap of $2.67 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 5.96 and a beta of 1.17.

Globant (NYSE:GLOB) last issued its quarterly 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 during the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. 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 fiscal year.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Scotiabank raised Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a research note on Monday, July 21st. Wells Fargo & Company raised Globant to a “hold” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. lowered Globant from an “overweight” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Friday, August 15th. Citigroup raised Globant to a “hold” rating in a research note on Thursday, October 23rd. Finally, UBS Group dropped their price objective on Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.