Luxoft (LXFT) Stock Price Down 14.1%

Luxoft Holding Inc (NYSE:LXFT)’s share price fell 14.1% on Thursday . The stock traded as low as $32.29 and last traded at $33.30. 1,103,291 shares changed hands during trading, an increase of 317% from the average session volume of 264,684 shares. The stock had previously closed at $38.75.

Several research firms recently weighed in on LXFT. Zacks Investment Research upgraded shares of Luxoft from a “sell” rating to a “hold” rating in a research report on Saturday, September 22nd. Credit Suisse Group increased their price target on shares of Luxoft from $35.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, September 20th. VTB Capital lowered shares of Luxoft from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Cantor Fitzgerald restated a “buy” rating and set a $46.00 price target on shares of Luxoft in a research report on Monday, September 3rd. Finally, KeyCorp increased their price target on shares of Luxoft from $47.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $50.56.

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 15.93 and a beta of 1.73.

Luxoft (NYSE:LXFT) last issued its earnings results on Wednesday, August 15th. The software maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.28. The firm had revenue of $212.79 million during the quarter, compared to analyst estimates of $212.44 million. Luxoft had a net margin of 6.09% and a return on equity of 15.44%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. Analysts anticipate that Luxoft Holding Inc will post 1.81 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. FMR LLC boosted its position in Luxoft by 1.3% during the third quarter. FMR LLC now owns 2,242,332 shares of the software maker’s stock worth $106,174,000 after purchasing an additional 28,998 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Luxoft by 82.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,955,048 shares of the software maker’s stock worth $92,571,000 after purchasing an additional 884,095 shares during the period. Franklin Resources Inc. boosted its position in Luxoft by 140.6% during the third quarter. Franklin Resources Inc. now owns 1,392,572 shares of the software maker’s stock worth $65,938,000 after purchasing an additional 813,800 shares during the period. Nan Shan Life Insurance Co. Ltd. bought a new position in Luxoft during the third quarter worth about $39,610,000. Finally, Alliancebernstein L.P. boosted its position in Luxoft by 12.5% during the third quarter. Alliancebernstein L.P. now owns 659,550 shares of the software maker’s stock worth $31,230,000 after purchasing an additional 73,120 shares during the period. Hedge funds and other institutional investors own 56.12% of the company’s stock.

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Luxoft Company Profile (NYSE:LXFT)

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.

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