Price T Rowe Associates Inc. MD Decreases Holdings in Globant S.A. $GLOB

Key Points

• Price T Rowe Associates Inc. MD decreased its holdings in Globant S.A. by 23.3%, now owning 3,400,397 shares worth approximately $400 million.
• Other hedge funds increased their stake in Globant, with Brooklyn Investment Group raising theirs by 194.4%, now holding shares valued at $25,000.
• Globant reported earnings of $1.53 per share for the last quarter, slightly exceeding analyst expectations, with revenue rising 4.5% year-over-year.

Price T Rowe Associates Inc. MD decreased its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 23.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,400,397 shares of the information technology services provider's stock after selling 1,034,257 shares during the quarter. Price T Rowe Associates Inc. MD owned 7.72% of Globant worth $400,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Globant by 6.2% in the first quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider's stock valued at $200,709,000 after buying an additional 98,863 shares in the last quarter. Invesco Ltd. increased its position in Globant by 764.3% in the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock valued at $111,271,000 after acquiring an additional 835,859 shares during the period. Manning & Napier Advisors LLC increased its position in Globant by 86.3% in 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 acquiring an additional 420,382 shares during the period. Westfield Capital Management Co. LP increased its position in Globant by 209.0% in 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 acquiring an additional 554,938 shares during the period. Finally, Polen Capital Management LLC increased its position in Globant by 22.0% in the 1st quarter. Polen Capital Management LLC now owns 774,418 shares of the information technology services provider's stock valued at $91,164,000 after acquiring an additional 139,894 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GLOB shares. UBS Group decreased their price target on shares of Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Needham & Company LLC reduced their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective on the stock in a research note on Monday, July 21st. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Globant has an average rating of "Moderate Buy" and a consensus price target of $139.47.

Globant Stock Up 0.0%

Shares of GLOB stock traded up $0.02 on Thursday, hitting $67.84. The stock had a trading volume of 457,683 shares, compared to its average volume of 1,164,249. The business has a 50 day moving average of $83.02 and a 200 day moving average of $112.02. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.97 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 S.A. has a 12-month low of $64.51 and a 12-month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. The company had revenue of $614.18 million during 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, analysts expect that Globant S.A. will post 5.73 EPS for the current year.

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.