Johnson Investment Counsel Inc. Sells 693 Shares of Globant S.A. $GLOB

Johnson Investment Counsel Inc. reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,097 shares of the information technology services provider’s stock after selling 693 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Globant were worth $1,371,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GLOB. Brooklyn Investment Group grew its stake in shares of Globant by 194.4% during 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 during the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Globant by 140.9% during 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 during the last quarter. Bessemer Group Inc. bought a new stake in shares of Globant during the first quarter valued at approximately $39,000. Farther Finance Advisors LLC grew its stake in shares of Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 252 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Globant by 29.7% during 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 during the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. UBS Group cut their price target on Globant from $120.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 20th. Needham & Company LLC cut their price target on Globant from $115.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Canaccord Genuity Group reissued a “hold” rating and issued a $97.00 price target (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, July 17th. They issued a “hold” rating and a $87.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $138.47.

Globant Trading Up 0.5%

Shares of NYSE GLOB opened at $59.64 on Wednesday. The company’s fifty day moving average is $63.53 and its 200-day moving average is $88.20. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 2.61 and a beta of 1.17. Globant S.A. has a twelve month low of $54.36 and a twelve month high of $238.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. The company had revenue of $614.18 million for the quarter, compared to analysts’ expectations of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities research analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Globant declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 1st that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

About Globant

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.