Public Employees Retirement System of Ohio Sells 144,485 Shares of Globant S.A. $GLOB

Public Employees Retirement System of Ohio trimmed its holdings in shares of Globant S.A. (NYSE:GLOB) by 68.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,099 shares of the information technology services provider’s stock after selling 144,485 shares during the period. Public Employees Retirement System of Ohio’s holdings in Globant were worth $3,002,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Globant during the first quarter worth $447,000. Goldman Sachs Group Inc. raised its holdings in shares of Globant by 69.3% in the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after buying an additional 30,386 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Globant by 61.9% in the second quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock valued at $9,291,000 after buying an additional 39,122 shares during the last quarter. Marshall Wace LLP lifted its position in Globant by 823.2% during the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock worth $9,619,000 after buying an additional 94,424 shares in the last quarter. Finally, Amundi lifted its position in Globant by 192.7% during the 2nd quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock worth $727,000 after buying an additional 5,247 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

GLOB has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Globant from $42.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday. Itau BBA Securities lowered shares of Globant from an “outperform” rating to a “market perform” rating and set a $39.00 target price on the stock. in a research report on Wednesday, July 8th. Canaccord Genuity Group decreased their price target on shares of Globant from $50.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Wedbush reissued an “outperform” rating on shares of Globant in a report on Monday, May 18th. Finally, William Blair cut shares of Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Globant has an average rating of “Hold” and an average target price of $52.75.

Globant Price Performance

Shares of GLOB stock opened at $36.52 on Friday. The stock has a 50-day moving average price of $34.17 and a 200 day moving average price of $44.36. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.37 and a beta of 1.06. Globant S.A. has a 12 month low of $27.56 and a 12 month high of $89.37.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Friday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. Globant had a return on equity of 9.87% and a net margin of 4.46%.The firm had revenue of $607.09 million during the quarter, compared to analysts’ expectations of $601.65 million. During the same period in the previous year, the business posted $1.50 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts expect that Globant S.A. will post 4.9 EPS for the current year.

Globant declared that its Board of Directors has authorized a stock buyback plan on Monday, May 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.