Luxoft (NYSE:LXFT) Stock Rating Upgraded by Zacks Investment Research

Luxoft (NYSE:LXFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, November 23rd. The firm presently has a $59.00 price target on the software maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.68% from the company’s current price.

According to Zacks, “Luxoft Holding, Inc. offers software development services and information technology solutions. Its software development services consist of software development and support, product engineering and testing and technology consulting. The Company focuses on six industry verticals: financial services, travel and aviation, technology, telecom, automotive and transport and energy. It operates primarily in Western Europe and North America. Luxoft Holding, Inc. is based in Tortola, Virgin Islands. “

LXFT has been the topic of several other reports. VTB Capital assumed coverage on shares of Luxoft in a research note on Tuesday, August 15th. They issued a “buy” rating and a $65.00 price target on the stock. Cowen set a $63.00 price target on shares of Luxoft and gave the company a “buy” rating in a research note on Friday, August 11th. KeyCorp restated a “hold” rating on shares of Luxoft in a research report on Friday, November 3rd. Credit Suisse Group lowered shares of Luxoft from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 7th. Finally, Wedbush downgraded Luxoft from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $60.80 to $67.00 in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $60.75.

Shares of Luxoft (NYSE:LXFT) opened at $51.90 on Thursday. The firm has a market cap of $1,703.38, a P/E ratio of 24.19 and a beta of 1.48. Luxoft has a 1-year low of $40.15 and a 1-year high of $67.85.

Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Luxoft by 5.4% during the 2nd quarter. FMR LLC now owns 2,058,143 shares of the software maker’s stock worth $125,239,000 after buying an additional 105,039 shares during the last quarter. Wasatch Advisors Inc. raised its stake in shares of Luxoft by 4.2% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,714,881 shares of the software maker’s stock worth $81,971,000 after buying an additional 69,234 shares during the last quarter. Prudential PLC raised its stake in shares of Luxoft by 2.4% during the 2nd quarter. Prudential PLC now owns 782,042 shares of the software maker’s stock worth $47,587,000 after buying an additional 18,476 shares during the last quarter. NWQ Investment Management Company LLC raised its stake in shares of Luxoft by 90.5% during the 3rd quarter. NWQ Investment Management Company LLC now owns 603,218 shares of the software maker’s stock worth $28,834,000 after buying an additional 286,497 shares during the last quarter. Finally, Standard Life Investments LTD raised its stake in shares of Luxoft by 153.9% during the 2nd quarter. Standard Life Investments LTD now owns 330,669 shares of the software maker’s stock worth $20,114,000 after buying an additional 200,442 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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Luxoft Company Profile

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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