American Century Companies Inc. Sells 94,236 Shares of Globant S.A. $GLOB

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. decreased its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GLOB. Invesco Ltd. boosted its position in shares of Globant by 764.3% during the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock valued at $111,271,000 after purchasing an additional 835,859 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Globant by 209.0% during the 1st quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider's stock valued at $96,583,000 after purchasing an additional 554,938 shares in the last quarter. Nuveen LLC bought a new stake in shares of Globant during the 1st quarter valued at about $58,163,000. Manning & Napier Advisors LLC boosted its position in shares of Globant by 86.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider's stock valued at $106,850,000 after purchasing an additional 420,382 shares in the last quarter. Finally, Polen Capital Management LLC boosted its position in shares of Globant by 22.0% during the 1st quarter. Polen Capital Management LLC now owns 774,418 shares of the information technology services provider's stock valued at $91,164,000 after purchasing an additional 139,894 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Analyst Ratings Changes

GLOB has been the topic of several research analyst reports. Needham & Company LLC cut their target price on Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Canaccord Genuity Group restated a "hold" rating and set a $97.00 target price (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. JPMorgan Chase & Co. lowered Globant from an "overweight" rating to a "neutral" rating and set a $78.00 target price on the stock. in a research report on Friday, August 15th. Guggenheim reiterated a "buy" rating and issued a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. Finally, UBS Group cut their price target on Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

Globant Stock Down 0.4%

Shares of GLOB stock traded down $0.25 during trading hours on Friday, reaching $67.20. The company had a trading volume of 1,050,039 shares, compared to its average volume of 2,040,844. Globant S.A. has a 12 month low of $64.51 and a 12 month high of $238.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The business has a fifty day simple moving average of $82.20 and a 200-day simple moving average of $109.21. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.98 and a beta of 1.16.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter last year, the company earned $1.51 earnings per share. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, research analysts expect that Globant S.A. will post 5.73 earnings per share 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.