BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 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 lifted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,300 shares of the information technology services provider's stock after buying 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 bought and sold shares of the business. Groupe la Francaise bought a new stake in Globant during the 1st quarter worth approximately $1,132,000. D.B. Root & Company LLC boosted its position in Globant by 125.5% in the 1st quarter. D.B. Root & Company LLC now owns 2,235 shares of the information technology services provider's stock valued at $263,000 after buying an additional 1,244 shares during the last quarter. Banco BTG Pactual S.A. bought a new position in Globant in the 1st quarter valued at $1,001,000. T. Rowe Price Investment Management Inc. boosted its position in Globant by 73.7% in 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 buying an additional 233,145 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Globant by 9.1% in the 1st quarter. Hsbc Holdings PLC now owns 64,029 shares of the information technology services provider's stock valued at $7,493,000 after buying an additional 5,344 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLOB. Scotiabank upgraded Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft assumed 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. Needham & Company LLC lowered their target price on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 15th. JPMorgan Chase & Co. downgraded shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 target price for the company. in a research note on Friday, August 15th. Finally, Mizuho set a $153.00 target price on shares of Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

Globant Stock Up 0.1%

Shares of GLOB traded up $0.10 during midday trading on Friday, hitting $67.55. The stock had a trading volume of 324,526 shares, compared to its average volume of 1,162,340. The company has a 50 day simple moving average of $82.61 and a two-hundred day simple moving average of $110.99. Globant S.A. has a twelve month low of $64.51 and a twelve month high of $238.32. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 3.00 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71.

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

About Globant

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.