7,614 Shares in Globant S.A. $GLOB Acquired by Vancity Investment Management Ltd

Key Points

• Vancity Investment Management Ltd. acquired a new stake of 7,614 shares in Globant S.A., worth approximately $896,000, according to its recent 13F filing.
• Several other large investors, such as Raymond James Financial Inc. and Principal Financial Group Inc., have also increased their positions in Globant, indicating strong institutional interest.
• Globant reported earnings of $1.53 per share for the last quarter, slightly above expectations, with revenue increasing by 4.5% year-over-year.

Vancity Investment Management Ltd purchased a new position in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,614 shares of the information technology services provider's stock, valued at approximately $896,000.

Several other institutional investors have also modified their holdings of GLOB. Brooklyn Investment Group raised its holdings in shares of Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 140 shares during the period. Physician Wealth Advisors Inc. grew its position in Globant by 140.9% in the 1st 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. Bessemer Group Inc. acquired a new position in shares of Globant during the first quarter worth about $39,000. Farther Finance Advisors LLC grew its position in shares of Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock worth $45,000 after buying an additional 252 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GLOB shares. Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $97.00 price objective (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Needham & Company LLC decreased their price target on Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Mizuho set a $153.00 price objective on Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Eight research 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

Globant Trading Down 4.0%

Shares of NYSE GLOB traded down $2.35 during mid-day trading on Friday, hitting $56.15. 1,475,371 shares of the company traded hands, compared to its average volume of 1,726,404. The business has a 50 day moving average of $76.28 and a two-hundred day moving average of $100.35. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.58 and a beta of 1.17. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a 1 year low of $55.91 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly 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. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. During the same period last year, the business earned $1.51 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.