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

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. “

LXFT has been the subject of a number of other reports. Cantor Fitzgerald reissued a hold rating and set a $55.00 price objective on shares of Luxoft Holding in a report on Wednesday, September 7th. Monness Crespi & Hardt cut their price objective on Luxoft Holding from $84.00 to $78.00 and set a buy rating for the company in a report on Tuesday, June 28th. Berenberg Bank reaffirmed a hold rating on shares of Luxoft Holding in a report on Tuesday, August 16th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Luxoft Holding in a report on Friday, June 17th. Finally, Credit Suisse Group AG reaffirmed a hold rating and issued a $55.00 price target on shares of Luxoft Holding in a report on Wednesday, May 18th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $68.80.

Shares of Luxoft Holding (NYSE:LXFT) opened at 52.15 on Tuesday. The firm’s 50-day moving average is $53.85 and its 200-day moving average is $55.81. Luxoft Holding has a 1-year low of $46.58 and a 1-year high of $80.64. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 25.44 and a beta of 1.56.

Luxoft Holding (NYSE:LXFT) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by $0.01. The company had revenue of $178 million for the quarter, compared to the consensus estimate of $176.39 million. Luxoft Holding had a net margin of 10.24% and a return on equity of 24.69%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. On average, analysts predict that Luxoft Holding will post $2.92 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in shares of Luxoft Holding by 21.1% in the second quarter. Handelsbanken Fonder AB now owns 379,000 shares of the company’s stock worth $19,716,000 after buying an additional 66,000 shares during the last quarter. A.R.T. Advisors LLC raised its position in Luxoft Holding by 103.1% in the first quarter. A.R.T. Advisors LLC now owns 22,462 shares of the company’s stock valued at $1,236,000 after buying an additional 11,400 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Luxoft Holding during the first quarter valued at about $360,000. Prudential Financial Inc. bought a new position in Luxoft Holding during the first quarter valued at about $339,000. Finally, BlackRock Group LTD raised its position in Luxoft Holding by 71.0% in the first quarter. BlackRock Group LTD now owns 1,053,293 shares of the company’s stock valued at $57,962,000 after buying an additional 437,292 shares during the last quarter. Hedge funds and other institutional investors own 90.37% of the company’s stock.

About Luxoft Holding

Luxoft Holding, Inc is a provider of software development services and information technology (IT) solutions. The Company’s software development services consist of custom software development and support, product engineering and testing and technology consulting. The Company’s services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements.

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