Credit Suisse Group Downgrades Luxoft Holding, Inc. (NYSE:LXFT) to Underperform

Luxoft Holding, Inc. (NYSE:LXFT) was downgraded by investment analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a report released on Thursday, September 7th, Marketbeat.com reports.

Several other equities research analysts also recently weighed in on LXFT. UBS AG reiterated a “neutral” rating and issued a $66.00 price target (up from $63.00) on shares of Luxoft Holding in a report on Thursday, May 25th. Berenberg Bank set a $60.00 price target on Luxoft Holding and gave the stock a “buy” rating in a report on Monday, August 14th. Cantor Fitzgerald reiterated a “hold” rating and issued a $55.00 price target on shares of Luxoft Holding in a report on Tuesday, May 23rd. VTB Capital started coverage on Luxoft Holding in a report on Tuesday, August 15th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Cowen and Company raised their price objective on Luxoft Holding from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Luxoft Holding presently has a consensus rating of “Hold” and a consensus price target of $64.38.

Luxoft Holding (NYSE:LXFT) traded up 3.05% on Thursday, reaching $49.00. The company had a trading volume of 258,311 shares. The stock’s 50-day moving average price is $52.43 and its 200-day moving average price is $59.39. The stock has a market capitalization of $1.64 billion, a P/E ratio of 30.66 and a beta of 1.50. Luxoft Holding has a 12-month low of $40.15 and a 12-month high of $67.85.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. boosted its position in Luxoft Holding by 9.1% during the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after acquiring an additional 168 shares in the last quarter. Bank of America Corp DE boosted its position in Luxoft Holding by 305.1% during the 1st quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock valued at $139,000 after acquiring an additional 1,678 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Luxoft Holding in the 1st quarter worth $204,000. Pacad Investment Ltd. boosted its position in shares of Luxoft Holding by 50.0% in the 2nd quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Luxoft Holding by 182.0% in the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after purchasing an additional 2,215 shares in the last quarter. 80.58% of the stock is currently owned by institutional investors and hedge funds.

About Luxoft Holding

Luxoft Holding, Inc, is a provider of software development services and information technology (IT) solutions to a global client base consisting primarily of large multinational corporations. The Company’s software development services consist of custom software development and support, product engineering and testing, and technology consulting.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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