BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 13,800 Shares of Globant S.A. $GLOB

Key Points

• British Columbia Investment Management Corp increased its shares in Globant S.A. by 11.3%, now owning 136,300 shares worth approximately $16 million.
• Globant reported a quarterly earnings per share (EPS) of $1.53, surpassing estimates, and its revenue increased by 4.5% compared to the same quarter last year.
• Institutional investors own around 91.60% of Globant's stock, indicating strong interest from significant investment firms.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,300 shares of the information technology services provider's stock after purchasing an additional 13,800 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.31% of Globant worth $16,045,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Signaturefd LLC grew its position in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 89 shares during the period. Blue Trust Inc. grew its position in Globant by 23.6% in the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 116 shares during the period. Brooklyn Investment Group grew its position in Globant by 194.4% in the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 140 shares during the period. Benjamin Edwards Inc. grew its position in Globant by 4.8% in the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock valued at $712,000 after acquiring an additional 151 shares during the period. Finally, Physician Wealth Advisors Inc. grew its position in Globant by 140.9% in the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 155 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

Shares of GLOB stock opened at $69.6890 on Friday. The stock's fifty day moving average is $84.49 and its 200-day moving average is $114.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.56 and a current ratio of 1.71. The stock has a market capitalization of $3.07 billion, a PE ratio of 28.33, a PEG ratio of 3.11 and a beta of 1.16. Globant S.A. has a 52 week low of $64.51 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 (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The business had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The firm'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 expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price target on the stock. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. The Goldman Sachs Group decreased their target price on Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $154.00 to $116.00 in a report on Friday, May 16th. Finally, Mizuho set a $153.00 target price on Globant and gave the stock an "outperform" rating in a report on Monday, May 19th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Globant presently has an average rating of "Moderate Buy" and a consensus 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.

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