Mitsubishi UFJ Trust & Banking Corp Sells 45,949 Shares of Globant S.A. $GLOB

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Globant S.A. (NYSE:GLOB) by 10.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 386,653 shares of the information technology services provider’s stock after selling 45,949 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.88% of Globant worth $22,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of Globant by 214.1% during the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Globant by 352.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 352 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Globant by 27,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 833 shares in the last quarter. CWM LLC boosted its holdings in Globant by 35.4% during the 3rd quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock worth $49,000 after acquiring an additional 225 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Globant by 105.5% in the 3rd quarter. Covestor Ltd now owns 1,005 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 516 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLOB has been the topic of several analyst reports. Jefferies Financial Group cut shares of Globant from a “buy” rating to a “hold” rating and cut their price target for the stock from $80.00 to $61.00 in a report on Thursday, November 20th. The Goldman Sachs Group dropped their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a report on Monday, December 29th. Citigroup raised Globant to a “hold” rating in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on Globant from $61.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.75.

Globant Stock Performance

NYSE GLOB opened at $69.23 on Tuesday. The firm has a market cap of $3.05 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 6.36 and a beta of 1.21. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $66.64 and its 200-day moving average is $66.94. Globant S.A. has a 12-month low of $54.36 and a 12-month high of $228.98.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The business had revenue of $617.14 million during the quarter, compared to analysts’ expectations of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Sell-side analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Globant declared that its board has approved a share repurchase plan on Wednesday, October 1st that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.