Cetera Investment Advisers Has $1.81 Million Stake in Globant S.A. $GLOB

Cetera Investment Advisers decreased its stake in shares of Globant S.A. (NYSE:GLOB) by 20.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,893 shares of the information technology services provider’s stock after selling 5,033 shares during the quarter. Cetera Investment Advisers’ holdings in Globant were worth $1,807,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Globant during the second quarter worth about $588,000. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Globant by 5.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 16,044 shares of the information technology services provider’s stock worth $1,457,000 after purchasing an additional 865 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Globant by 218.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 432,602 shares of the information technology services provider’s stock worth $39,298,000 after purchasing an additional 296,888 shares in the last quarter. Allworth Financial LP increased 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 purchasing an additional 197 shares during the period. Finally, Zions Bancorporation National Association UT raised its stake in shares of Globant by 6.4% in the second quarter. Zions Bancorporation National Association UT now owns 8,326 shares of the information technology services provider’s stock valued at $756,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

NYSE GLOB opened at $63.47 on Monday. Globant S.A. has a 1-year low of $54.36 and a 1-year high of $234.78. The company has a 50 day moving average of $59.97 and a 200-day moving average of $75.32. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 6.00 and a beta of 1.24.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The business had revenue of $617.14 million for the quarter, compared to the consensus estimate of $615.32 million. Globant had a return on equity of 10.39% and a net margin of 4.01%.The firm’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. On average, equities 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 authorized a share buyback plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup upgraded shares of Globant to a “hold” rating in a research note on Thursday, October 23rd. Needham & Company LLC lowered their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Wells Fargo & Company upgraded shares of Globant to a “hold” rating in a research note on Wednesday, October 22nd. UBS Group decreased their price objective on Globant from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.67.

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.