Baird Financial Group Inc. Reduces Position in Globant S.A. $GLOB

Key Points

• Baird Financial Group Inc. reduced its stake in Globant S.A. by 15.4%, holding 300,364 shares worth approximately $35.36 million after selling 54,564 shares in the first quarter.
• Invesco Ltd. significantly increased its holdings in Globant by 764.3%, while other firms like Westfield Capital Management and Manning & Napier Advisors also made substantial purchases, indicating strong institutional interest in the company.
• Globant reported $1.53 earnings per share for its latest quarter, beating analyst expectations and showing a 4.5% revenue growth compared to the previous year.

Baird Financial Group Inc. lessened its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,364 shares of the information technology services provider's stock after selling 54,564 shares during the quarter. Baird Financial Group Inc. owned 0.68% of Globant worth $35,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLOB. Invesco Ltd. increased its stake in 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 increased its stake in 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 Globant during the 1st quarter valued at $58,163,000. Manning & Napier Advisors LLC increased its stake in 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, T. Rowe Price Investment Management Inc. increased its stake in Globant by 73.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 549,328 shares of the information technology services provider's stock valued at $64,667,000 after purchasing an additional 233,145 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Stock Performance

Shares of NYSE:GLOB traded up $0.53 during midday trading on Friday, reaching $62.88. The company had a trading volume of 1,609,593 shares, compared to its average volume of 1,837,002. The company's 50 day moving average price is $79.60 and its 200 day moving average price is $104.47. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.77 billion, a P/E ratio of 25.56, a P/E/G ratio of 2.74 and a beta of 1.17. Globant S.A. has a 52-week low of $61.57 and a 52-week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued 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 the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. UBS Group reduced their target price on shares of Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Canaccord Genuity Group reiterated a "hold" rating and issued a $97.00 target price (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $139.47.

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.