Luxoft Holding, Inc. (LXFT) Cut to “Underperform” at Credit Suisse Group

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.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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