Zacks Investment Research upgraded shares of Luxoft Holding, Inc. (NYSE:LXFT) from a strong sell rating to a hold rating in a research note released 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 also recently weighed in on LXFT. J P Morgan Chase & Co restated a buy rating and issued a $80.00 target price on shares of Luxoft Holding in a report on Friday, November 11th. Wedbush raised shares of Luxoft Holding from a neutral rating to an outperform rating and lifted their price target for the stock from $62.00 to $67.00 in a research note on Friday, January 6th. Cowen and Company raised shares of Luxoft Holding from a market perform rating to an outperform rating and set a $65.00 price target for the company in a research note on Monday, December 19th. Finally, Pacific Crest reaffirmed a hold rating on shares of Luxoft Holding in a research note on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $68.42.

Luxoft Holding (NYSE:LXFT) traded up 1.12% during trading on Thursday, reaching $58.90. 79,747 shares of the company were exchanged. Luxoft Holding has a 1-year low of $46.58 and a 1-year high of $77.28. The stock has a market capitalization of $1.95 billion, a P/E ratio of 31.82 and a beta of 1.52. The company’s 50-day moving average price is $55.51 and its 200-day moving average price is $53.59.

WARNING: This story was first posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be read at http://www.watchlistnews.com/luxoft-holding-inc-lxft-upgraded-to-hold-by-zacks-investment-research/1060424.html.

Large investors have recently made changes to their positions in the company. Grandeur Peak Global Advisors LLC boosted its stake in shares of Luxoft Holding by 11.3% in the third quarter. Grandeur Peak Global Advisors LLC now owns 174,900 shares of the company’s stock valued at $9,243,000 after buying an additional 17,725 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Luxoft Holding during the third quarter valued at $898,000. Highbridge Capital Management LLC acquired a new stake in shares of Luxoft Holding during the third quarter valued at $303,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Luxoft Holding during the third quarter valued at $9,375,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Luxoft Holding by 47.0% in the third quarter. Lazard Asset Management LLC now owns 221,825 shares of the company’s stock valued at $11,723,000 after buying an additional 70,900 shares during the last quarter. 89.86% of the stock is owned by hedge funds and other institutional investors.

Luxoft Holding Company Profile

Luxoft Holding, Inc is a provider of software development services and information technology solutions to a client base consisting of multinational corporations. The Company’s software development services consist of custom software development and support, product engineering and testing, and technology consulting.

5 Day Chart for NYSE:LXFT

Get a free copy of the Zacks research report on Luxoft Holding (LXFT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Luxoft Holding Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luxoft Holding Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.