Strs Ohio Purchases 25,000 Shares of Globant S.A. $GLOB

Strs Ohio raised its position in Globant S.A. (NYSE:GLOB) by 13.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 217,019 shares of the information technology services provider’s stock after purchasing an additional 25,000 shares during the period. Strs Ohio’s holdings in Globant were worth $12,453,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Covestor Ltd raised its stake in Globant by 105.5% during the third quarter. Covestor Ltd now owns 1,005 shares of the information technology services provider’s stock worth $58,000 after buying an additional 516 shares during the last quarter. VELA Investment Management LLC acquired a new stake in Globant during the 3rd quarter worth about $671,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Globant in the 3rd quarter worth about $259,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Globant by 80.5% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,939 shares of the information technology services provider’s stock valued at $169,000 after purchasing an additional 1,311 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of Globant by 35.6% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 15,057 shares of the information technology services provider’s stock valued at $864,000 after purchasing an additional 3,951 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GLOB shares. The Goldman Sachs Group lowered their target price on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. UBS Group reiterated a “neutral” rating and issued a $75.00 price objective on shares of Globant in a research note on Monday, January 19th. JPMorgan Chase & Co. cut their target price on shares of Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Finally, Jefferies Financial Group downgraded shares of Globant from a “buy” rating to a “hold” rating and decreased their price target for the company from $80.00 to $61.00 in a research note on Thursday, November 20th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $97.75.

Globant Stock Performance

Shares of GLOB stock opened at $69.16 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $66.43 and a two-hundred day simple moving average of $67.07. Globant S.A. has a 12 month low of $54.36 and a 12 month high of $228.98. The firm has a market capitalization of $3.05 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 6.36 and a beta of 1.21.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The business had revenue of $617.14 million for the quarter, compared to analyst estimates of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 1st that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.