TD Asset Management Inc Lowers Stock Position in Globant S.A. $GLOB

TD Asset Management Inc lessened its holdings in shares of Globant S.A. (NYSE:GLOB) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,982 shares of the information technology services provider’s stock after selling 8,538 shares during the quarter. TD Asset Management Inc’s holdings in Globant were worth $10,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in Globant by 49.0% during the 1st quarter. Voya Investment Management LLC now owns 462,422 shares of the information technology services provider’s stock valued at $54,436,000 after purchasing an additional 152,152 shares during the period. Raymond James Financial Inc. raised its stake in Globant by 17.1% during the 1st quarter. Raymond James Financial Inc. now owns 91,427 shares of the information technology services provider’s stock valued at $10,763,000 after purchasing an additional 13,369 shares during the period. Principal Financial Group Inc. raised its stake in Globant by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider’s stock valued at $15,868,000 after purchasing an additional 8,599 shares during the period. Cetera Investment Advisers raised its stake in Globant by 23.7% during the 1st quarter. Cetera Investment Advisers now owns 24,926 shares of the information technology services provider’s stock valued at $2,934,000 after purchasing an additional 4,774 shares during the period. Finally, Dalton Investments Inc. raised its stake in Globant by 58.6% during the 1st quarter. Dalton Investments Inc. now owns 31,654 shares of the information technology services provider’s stock valued at $3,726,000 after purchasing an additional 11,700 shares during the period. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GLOB shares. The Goldman Sachs Group decreased their target price on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research note on Wednesday, October 8th. JPMorgan Chase & Co. downgraded Globant from an “overweight” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research note on Thursday, July 17th. They issued a “hold” rating and a $87.00 price objective on the stock. Finally, Needham & Company LLC reduced their price objective on Globant from $115.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $138.47.

Globant Stock Performance

NYSE:GLOB opened at $57.91 on Friday. 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 1 year low of $54.36 and a 1 year high of $238.32. The stock’s 50 day simple moving average is $62.35 and its two-hundred day simple moving average is $86.95. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.54 and a beta of 1.17.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (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 business had revenue of $614.18 million for the quarter, compared to the consensus estimate of $612.66 million. During the same quarter in the previous year, the company posted $1.51 EPS. The company’s revenue 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. As a group, equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has approved a share buyback program on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.