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

Cetera Investment Advisers cut its stake in shares of Globant S.A. (NYSE:GLOB) by 20.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,893 shares of the information technology services provider’s stock after selling 5,033 shares during the period. Cetera Investment Advisers’ holdings in Globant were worth $1,807,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group boosted its stake in shares of 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 buying an additional 140 shares during the period. Allworth Financial LP boosted its position in 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 last quarter. State of Wyoming grew its stake in Globant by 53.1% in the first 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 in the last quarter. CWM LLC grew its stake in Globant by 30.1% in the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 147 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Globant by 33.2% in the 2nd quarter. GAMMA Investing LLC now owns 988 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Price 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 fifty day simple moving average of $59.97 and a 200 day simple 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 company has a market cap of $2.79 billion, a P/E ratio of 28.72, a P/E/G ratio of 6.00 and a beta of 1.24.

Globant (NYSE:GLOB) last released its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). Globant had a return on equity of 10.39% and a net margin of 4.01%.The firm had revenue of $617.14 million for the quarter, compared to analyst estimates of $615.32 million. During the same period in the prior year, the firm earned $1.63 EPS. The firm’s revenue was up .4% on a year-over-year basis. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. On average, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Globant announced that its board has initiated a share buyback plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GLOB shares. The Goldman Sachs Group reduced their price target on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. UBS Group cut their price objective on shares of Globant from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Canaccord Genuity Group decreased their target price on shares of Globant from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 14th. Wells Fargo & Company upgraded shares of Globant to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Citigroup raised shares of Globant to a “hold” rating in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.