USS Investment Management Ltd Trims Stake in Globant S.A. $GLOB

Key Points

• USS Investment Management Ltd has reduced its stake in Globant S.A. by 28.8%, now holding approximately $9.62 million in shares.
• Despite the decrease from USS, other investors such as Brooklyn Investment Group and Physician Wealth Advisors Inc. increased their holdings significantly, showcasing a shift in investor sentiment towards Globant.
• Globant’s recent earnings report showed an EPS of $1.53, slightly surpassing analyst expectations, along with a 4.5% year-over-year revenue growth.

USS Investment Management Ltd lessened its stake in Globant S.A. (NYSE:GLOB - Free Report) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,855 shares of the information technology services provider's stock after selling 33,076 shares during the period. USS Investment Management Ltd owned about 0.19% of Globant worth $9,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Scientech Research LLC bought a new stake in shares of Globant in the 1st quarter valued at about $889,000. Petrus Trust Company LTA bought a new stake in shares of Globant in the 1st quarter valued at about $204,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Globant in the 1st quarter valued at about $447,000. BW Gestao de Investimentos Ltda. lifted its stake in shares of Globant by 55.1% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 183,200 shares of the information technology services provider's stock valued at $21,566,000 after acquiring an additional 65,100 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in Globant by 51.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 420,753 shares of the information technology services provider's stock valued at $49,531,000 after purchasing an additional 142,048 shares during the period. Institutional investors own 91.60% of the company's stock.

Analyst Ratings Changes

GLOB has been the topic of a number of research analyst reports. UBS Group reduced their price target on Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Guggenheim restated a "buy" rating and set a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. Piper Sandler downgraded Globant from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $154.00 to $116.00 in a report on Friday, May 16th. Mizuho set a $153.00 price target on Globant and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a report on Thursday, June 26th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $139.47.

Globant Stock Down 4.0%

Shares of GLOB stock traded down $2.35 during midday trading on Friday, reaching $56.15. 1,475,371 shares of the stock were exchanged, compared to its average volume of 1,726,404. Globant S.A. has a 1 year low of $55.91 and a 1 year high of $238.32. The company's 50 day moving average is $76.28 and its two-hundred day moving average is $100.35. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.47 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.58 and a beta of 1.17.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The firm had revenue of $614.18 million for the quarter, compared to analysts' expectations of $612.66 million. During the same period in the previous year, the firm posted $1.51 EPS. The business'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. On average, equities research analysts predict 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.