Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 5,239 Shares of Globant S.A. $GLOB

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Globant S.A. (NYSE:GLOB) by 4.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 105,858 shares of the information technology services provider’s stock after selling 5,239 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.24% of Globant worth $9,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Globant by 764.3% in the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider’s stock worth $111,271,000 after purchasing an additional 835,859 shares during the period. Royal Bank of Canada raised its stake in Globant by 293.5% in the first quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock worth $117,716,000 after buying an additional 745,848 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Globant by 209.0% in the first quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider’s stock worth $96,583,000 after buying an additional 554,938 shares during the period. Nuveen LLC bought a new stake in Globant during the 1st quarter valued at approximately $58,163,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Globant by 218.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 432,602 shares of the information technology services provider’s stock valued at $39,298,000 after acquiring an additional 296,888 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 2.8%

Shares of GLOB stock opened at $61.05 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a 12 month low of $54.36 and a 12 month high of $235.08. The stock has a market cap of $2.69 billion, a P/E ratio of 27.63, a P/E/G ratio of 5.81 and a beta of 1.20. The company has a 50 day simple moving average of $59.16 and a two-hundred day simple moving average of $79.92.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.02). The firm had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.55%. Globant’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. On average, research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Globant declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GLOB shares. Wells Fargo & Company upgraded Globant to a “hold” rating in a report on Wednesday, October 22nd. UBS Group decreased their price target on shares of Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. The Goldman Sachs Group lowered their price target on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Citigroup upgraded shares of Globant to a “hold” rating in a report on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $111.93.

Globant Company 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.