Luxoft Holding, Inc. (LXFT) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Luxoft Holding, Inc. (NYSE:LXFT) from a sell rating to a hold rating in a report issued on Thursday.

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. “

A number of other analysts have also issued reports on LXFT. BidaskClub lowered shares of Luxoft from a hold rating to a sell rating in a research note on Saturday, August 5th. Wedbush lowered shares of Luxoft from an outperform rating to a neutral rating and lifted their price objective for the company from $60.80 to $67.00 in a research note on Friday, August 11th. Cowen Inc set a $63.00 price objective on shares of Luxoft and gave the company a buy rating in a research note on Friday, August 11th. Berenberg Bank set a $60.00 price objective on shares of Luxoft and gave the company a buy rating in a research note on Monday, August 14th. Finally, VTB Capital began coverage on shares of Luxoft in a research note on Tuesday, August 15th. They set a buy rating and a $65.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $59.50.

Shares of Luxoft (NYSE:LXFT) opened at $52.80 on Thursday. The stock has a market cap of $1,168.78, a P/E ratio of 25.26 and a beta of 1.45. Luxoft has a 12 month low of $40.15 and a 12 month high of $67.85.

Hedge funds have recently added to or reduced their stakes in the company. AXA grew its position in shares of Luxoft by 11.1% during the second quarter. AXA now owns 294,979 shares of the software maker’s stock worth $17,949,000 after buying an additional 29,362 shares in the last quarter. UBS Group AG grew its position in shares of Luxoft by 105.4% during the first quarter. UBS Group AG now owns 6,133 shares of the software maker’s stock worth $384,000 after buying an additional 3,147 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Luxoft during the first quarter worth approximately $3,568,000. FMR LLC grew its position in shares of Luxoft by 5.4% during the second 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 in the last quarter. Finally, Janney Capital Management LLC grew its position in shares of Luxoft by 8.8% during the second quarter. Janney Capital Management LLC now owns 5,073 shares of the software maker’s stock worth $308,000 after buying an additional 412 shares in the last quarter. 78.81% 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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