Public Employees Retirement System of Ohio Purchases Shares of 34,732 Globant S.A. $GLOB

Public Employees Retirement System of Ohio acquired a new position in shares of Globant S.A. (NYSE:GLOB) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 34,732 shares of the information technology services provider’s stock, valued at approximately $1,005,000.

A number of other institutional investors also recently made changes to their positions in GLOB. Allworth Financial LP increased its stake in shares of Globant by 473.3% during the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 407 shares during the period. Larson Financial Group LLC boosted its stake in Globant by 561.2% in the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 578 shares during the period. MidFirst Bank acquired a new position in Globant in the 4th quarter valued at $47,000. Essential Partners LLC acquired a new position in Globant in the 1st quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC increased its position in Globant by 872.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,274 shares of the information technology services provider’s stock worth $59,000 after buying an additional 1,143 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 5.2%

GLOB stock opened at $37.10 on Wednesday. The business has a 50-day simple moving average of $35.90 and a 200 day simple moving average of $39.83. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.63 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.10). The business had revenue of $614.42 million for the quarter, compared to analyst estimates of $612.86 million. Globant had a return on equity of 9.28% and a net margin of 4.63%.The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. Sell-side analysts anticipate that Globant S.A. will post 4.61 EPS for the current fiscal year.

Globant declared that its Board of Directors has approved a share repurchase program on Monday, May 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Globant

In other news, CTO Diego Tartara sold 6,000 shares of Globant stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the sale, the chief technology officer directly owned 72,320 shares of the company’s stock, valued at approximately $2,925,344. This trade represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wanda Weigert sold 6,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $40.45, for a total value of $242,700.00. Following the sale, the insider owned 64,046 shares in the company, valued at approximately $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 14,500 shares of company stock worth $585,400. 2.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wedbush downgraded Globant from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $54.00 to $37.00 in a report on Friday, August 14th. Wells Fargo & Company lowered their price target on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $47.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Canaccord Genuity Group set a $35.00 price objective on shares of Globant in a report on Friday, August 14th. Finally, Truist Financial decreased their target price on shares of Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.38.

Globant 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.