Envestnet Portfolio Solutions Inc. Cuts Holdings in Globant S.A. $GLOB

Key Points

• Envestnet Portfolio Solutions Inc. has significantly reduced its holdings in Globant S.A. by 54.6%, now owning 3,892 shares worth approximately $354,000.
• Several institutional investors, including Invesco Ltd. and Royal Bank of Canada, have recently increased their holdings in Globant, with Invesco boosting its stake by 764.3%.
• Analysts have mixed ratings on Globant, with an average rating of "Hold" and a price target estimation of $122.13 per share.

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 54.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,892 shares of the information technology services provider's stock after selling 4,680 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Globant were worth $354,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GLOB. Invesco Ltd. increased its holdings in Globant by 764.3% during the first quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock valued at $111,271,000 after buying an additional 835,859 shares during the period. Royal Bank of Canada increased its holdings in Globant by 293.5% during the first quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider's stock valued at $117,716,000 after buying an additional 745,848 shares during the period. Westfield Capital Management Co. LP increased its holdings in Globant by 209.0% during the first 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 buying an additional 554,938 shares during the period. Nuveen LLC purchased a new position in Globant during the first quarter valued at approximately $58,163,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Globant by 73.7% during the first 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 period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GLOB shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Globant in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price target on the stock. UBS Group decreased their price objective on Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. Scotiabank raised Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective for the company in a research report on Monday, July 21st. Finally, Wells Fargo & Company raised Globant to a "hold" rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $122.13.

Globant Price Performance

Shares of GLOB opened at $60.08 on Friday. The firm has a market capitalization of $2.65 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 5.67 and a beta of 1.17. 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 S.A. has a 1-year low of $54.36 and a 1-year high of $238.32. The company's fifty day moving average price is $60.98 and its 200-day moving average price is $85.88.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company 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, equities research analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Globant announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 1st that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Globant Company 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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