Credit Suisse Group cut shares of Luxoft Holding, Inc. (NYSE:LXFT) from a neutral rating to an underperform rating in a research report released on Thursday, Marketbeat.com reports.
Other equities analysts have also recently issued reports about the company. UBS AG restated a neutral rating and set a $66.00 target price (up from $63.00) on shares of Luxoft Holding in a report on Thursday, May 25th. BidaskClub cut Luxoft Holding from a buy rating to a hold rating in a report on Tuesday, June 13th. Cantor Fitzgerald restated a hold rating and set a $55.00 target price on shares of Luxoft Holding in a report on Tuesday, May 23rd. Cowen and Company set a $68.00 target price on Luxoft Holding and gave the company a buy rating in a report on Friday, June 16th. Finally, Berenberg Bank set a $60.00 target price on Luxoft Holding and gave the company a buy rating in a report on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $64.38.
Luxoft Holding (NYSE LXFT) traded up 1.16% on Thursday, reaching $47.85. 479,442 shares of the company’s stock traded hands. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 29.94 and a beta of 1.50. The firm has a 50-day moving average price of $54.61 and a 200-day moving average price of $59.70. Luxoft Holding has a 52 week low of $40.15 and a 52 week high of $67.85.
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Several institutional investors and hedge funds have recently made changes to their positions in LXFT. D.A. Davidson & CO. boosted its stake in shares of Luxoft Holding by 9.1% in the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after buying an additional 168 shares during the period. Bank of America Corp DE boosted its stake in shares of Luxoft Holding by 305.1% in the 1st quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock valued at $139,000 after buying an additional 1,678 shares during the period. Pacad Investment Ltd. boosted its stake 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 valued at $201,000 after buying an additional 1,100 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Luxoft Holding in the 1st quarter valued at about $204,000. Finally, Wells Fargo & Company MN boosted its stake 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 valued at $209,000 after buying an additional 2,215 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
Luxoft Holding 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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