Globant S.A. $GLOB Holdings Reduced by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Globant S.A. by 8.2%, now owning approximately 0.34% of the company, valued at $13.5 million.
• Globant reported earnings per share of $1.53, slightly exceeding analysts' expectations, along with a revenue of $614.18 million for the quarter.
• Research analysts maintain a Moderate Buy rating on Globant's stock, with a consensus target price of approximately $139.47.

Public Employees Retirement System of Ohio decreased its position in Globant S.A. (NYSE:GLOB - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,764 shares of the information technology services provider's stock after selling 13,329 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.34% of Globant worth $13,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its position in Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 89 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of 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 in the last quarter. Brooklyn Investment Group boosted its holdings in shares of 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 in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in shares of 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 in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Globant by 53.1% in the first quarter. State of Wyoming now owns 493 shares of the information technology services provider's stock valued at $58,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Trading Up 3.5%

Shares of NYSE:GLOB opened at $57.96 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.46 and a beta of 1.17. Globant S.A. has a 1-year low of $54.36 and a 1-year high of $238.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The company has a 50 day moving average price of $70.27 and a 200 day moving average price of $94.37.

Globant (NYSE:GLOB - Get Free Report) last issued its 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 firm had revenue of $614.18 million during the quarter, compared to analysts' expectations of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $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, research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Guggenheim reiterated a "buy" rating and issued a $125.00 price objective on shares of Globant in a report on Tuesday, June 10th. JPMorgan Chase & Co. cut shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price objective for the company. in a report on Friday, August 15th. Scotiabank upgraded shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective for the company in a report on Monday, July 21st. Canaccord Genuity Group reiterated a "hold" rating and issued a $97.00 price objective (down from $165.00) on shares of Globant in a report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock 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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