Luxoft Holding, Inc. (NYSE:LXFT) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.50.
A number of equities analysts have issued reports on LXFT shares. Zacks Investment Research lowered Luxoft from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 15th. Cowen Inc reaffirmed a “buy” rating and issued a $63.00 target price on shares of Luxoft in a research report on Thursday, October 12th. BidaskClub lowered Luxoft from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Credit Suisse Group downgraded Luxoft from a “neutral” rating to an “underperform” rating in a report on Thursday, September 7th. Finally, KeyCorp reiterated a “hold” rating on shares of Luxoft in a report on Friday, November 3rd.
Luxoft (NYSE LXFT) opened at $52.80 on Monday. Luxoft has a 52-week low of $40.15 and a 52-week high of $67.85. The stock has a market capitalization of $1,168.78, a P/E ratio of 25.26 and a beta of 1.45.
Hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its holdings in shares of Luxoft 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 acquiring an additional 168 shares during the last quarter. Bank of America Corp DE grew its stake in Luxoft by 305.1% during the 1st quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after buying an additional 1,678 shares during the last quarter. Pacad Investment Ltd. grew its stake in Luxoft by 50.0% during the 2nd quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after buying an additional 1,100 shares during the last quarter. Wells Fargo & Company MN grew its stake in Luxoft by 182.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after buying an additional 2,215 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Luxoft during the 2nd quarter worth $210,000. Institutional investors and hedge funds own 78.81% of the company’s stock.
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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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