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.
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.
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