Globant S.A. $GLOB Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Globant S.A. by 39.7% in the first quarter, holding 142,993 shares valued at approximately $16.83 million as per SEC filings.
• Globant reported quarterly earnings of $1.53 per share, slightly exceeding analysts' expectations, and revenue of $614.18 million, marking a 4.5% year-over-year increase.
• Analysts' ratings and price targets for Globant vary widely, with average target price around $139.47, while UBS Group recently reduced its target to $75.00 with a "neutral" rating.

American Century Companies Inc. reduced its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 39.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,993 shares of the information technology services provider's stock after selling 94,236 shares during the period. American Century Companies Inc. owned 0.32% of Globant worth $16,833,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Globant by 77.9% in the fourth quarter. First Trust Advisors LP now owns 43,016 shares of the information technology services provider's stock valued at $9,223,000 after purchasing an additional 18,842 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Globant by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 539,922 shares of the information technology services provider's stock worth $115,778,000 after buying an additional 32,534 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Globant by 30.4% during the 4th quarter. MML Investors Services LLC now owns 8,359 shares of the information technology services provider's stock worth $1,792,000 after buying an additional 1,947 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Globant by 262.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock worth $121,000 after buying an additional 407 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Globant by 10.4% in the 4th quarter. Stifel Financial Corp now owns 46,962 shares of the information technology services provider's stock valued at $10,070,000 after acquiring an additional 4,433 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on GLOB shares. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $154.00 to $116.00 in a research note on Friday, May 16th. Needham & Company LLC lowered their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. cut shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research note on Friday, August 15th. Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $139.47.

Globant Stock Performance

Shares of GLOB traded down $0.33 during midday trading on Thursday, hitting $67.49. 984,508 shares of the stock traded hands, compared to its average volume of 1,167,529. Globant S.A. has a 1-year low of $64.51 and a 1-year high of $238.32. The firm has a market capitalization of $2.97 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 2.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The business's 50 day moving average price is $83.02 and its two-hundred day moving average price is $112.02.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The company had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company's revenue for the quarter 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 research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.