Logan Capital Management Inc. Sells 218 Shares of Globant S.A. $GLOB

Logan Capital Management Inc. lessened its stake in Globant S.A. (NYSE:GLOB) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,235 shares of the information technology services provider’s stock after selling 218 shares during the period. Logan Capital Management Inc.’s holdings in Globant were worth $385,000 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. Brooklyn Investment Group increased its holdings in Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Physician Wealth Advisors Inc. increased its holdings in Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Bessemer Group Inc. purchased a new position in Globant during the 1st quarter valued at about $39,000. Signaturefd LLC increased its holdings in Globant by 29.7% during the 1st 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 during the period. Finally, State of Wyoming increased its holdings in Globant by 53.1% during the 1st quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 171 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 3.1%

GLOB stock opened at $60.72 on Wednesday. Globant S.A. has a fifty-two week low of $54.36 and a fifty-two week high of $238.32. The business’s 50 day moving average price is $60.57 and its two-hundred day moving average price is $84.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 5.96 and a beta of 1.17.

Globant (NYSE:GLOB) 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. As a group, analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

GLOB has been the topic of a number of research analyst reports. Scotiabank upgraded Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price target on the stock in a report on Monday, July 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Globant in a report on Wednesday, October 8th. Citigroup upgraded Globant to a “hold” rating in a report on Thursday, October 23rd. Wells Fargo & Company upgraded Globant to a “hold” rating in a report on Wednesday, October 22nd. Finally, The Goldman Sachs Group reduced their price target on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.13.

Globant 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.