Public Employees Retirement System of Ohio Invests $1 Million in Globant S.A. $GLOB

Public Employees Retirement System of Ohio acquired a new stake in Globant S.A. (NYSE:GLOB) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 34,732 shares of the information technology services provider’s stock, valued at approximately $1,005,000. Public Employees Retirement System of Ohio owned 0.08% of Globant as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Globant in the first quarter valued at approximately $447,000. Goldman Sachs Group Inc. increased its position in shares of Globant by 69.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock worth $8,739,000 after acquiring an additional 30,386 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Globant by 61.9% during the second quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock worth $9,291,000 after acquiring an additional 39,122 shares during the period. Marshall Wace LLP lifted its position in Globant by 823.2% in the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock valued at $9,619,000 after acquiring an additional 94,424 shares in the last quarter. Finally, Amundi lifted its position in Globant by 192.7% in the 2nd quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock valued at $727,000 after acquiring an additional 5,247 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GLOB shares. Wedbush lowered shares of Globant from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $54.00 to $37.00 in a research note on Friday, August 14th. JPMorgan Chase & Co. dropped their price target on Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Weiss Ratings lowered Globant from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 14th. Guggenheim reduced their price objective on Globant from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Truist Financial decreased their price objective on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a report on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Globant currently has a consensus rating of “Hold” and an average price target of $46.38.

Insider Transactions at Globant

In related news, insider Wanda Weigert sold 6,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $40.45, for a total value of $242,700.00. Following the sale, the insider owned 64,046 shares in the company, valued at approximately $2,590,660.70. This represents a 8.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Diego Tartara sold 6,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $40.45, for a total value of $242,700.00. Following the sale, the chief technology officer directly owned 72,320 shares of the company’s stock, valued at $2,925,344. This represents a 7.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,500 shares of company stock worth $585,400. 2.67% of the stock is owned by company insiders.

Globant Stock Performance

Shares of GLOB opened at $37.10 on Wednesday. The company has a market cap of $1.63 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The firm has a 50-day moving average of $35.90 and a 200-day moving average of $39.83. Globant S.A. has a one year low of $27.56 and a one year high of $72.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). The firm had revenue of $614.42 million during the quarter, compared to the consensus estimate of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. As a group, equities analysts forecast that Globant S.A. will post 4.61 earnings per share for the current year.

Globant declared that its board has approved a stock buyback plan on Monday, May 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Globant 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.