Luxoft Holding Inc (LXFT) Holdings Lifted by Franklin Resources Inc.
Franklin Resources Inc. grew its position in Luxoft Holding Inc (NYSE:LXFT) by 140.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392,572 shares of the software maker’s stock after purchasing an additional 813,800 shares during the period. Franklin Resources Inc.’s holdings in Luxoft were worth $65,938,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings 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 acquiring an additional 28,998 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 acquiring an additional 884,095 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. bought a new stake in Luxoft during the third quarter worth about $39,610,000. Alliancebernstein L.P. raised its holdings 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 acquiring an additional 73,120 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Luxoft during the third quarter worth about $30,647,000. Institutional investors own 56.01% of the company’s stock.
Several analysts recently issued reports on the company. Zacks Investment Research lowered Luxoft from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. ValuEngine upgraded Luxoft from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. KeyCorp upped their target price on Luxoft from $47.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. JPMorgan Chase & Co. lowered Luxoft from a “neutral” rating to an “underweight” rating in a report on Thursday, November 15th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $46.00 target price on shares of Luxoft in a report on Monday, September 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.89.
Luxoft (NYSE:LXFT) last announced its quarterly earnings results on Thursday, November 15th. The software maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. The firm had revenue of $228.41 million for the quarter, compared to the consensus estimate of $229.42 million. Luxoft had a return on equity of 14.00% and a net margin of 5.64%. Equities analysts forecast that Luxoft Holding Inc will post 1.79 EPS for the current year.
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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