Shares of Luxoft Holding, Inc. (NYSE:LXFT) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $46.50 and last traded at $46.53, with a volume of 3,458,467 shares. The stock had previously closed at $60.80.

Several research firms have recently issued reports on LXFT. Wedbush downgraded Luxoft Holding from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $60.80 to $67.00 in a research note on Friday. BidaskClub cut Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Cowen and Company set a $68.00 price objective on Luxoft Holding and gave the stock a “buy” rating in a research report on Friday, June 16th. Zacks Investment Research cut Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Friday, May 26th. Finally, UBS AG reissued a “neutral” rating and set a $66.00 price objective (up previously from $63.00) on shares of Luxoft Holding in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $65.83.

The stock has a 50-day moving average price of $61.88 and a 200 day moving average price of $61.22. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 24.97 and a beta of 1.46.

Luxoft Holding (NYSE:LXFT) last released its quarterly earnings results on Monday, May 22nd. The software maker reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. Luxoft Holding had a net margin of 7.97% and a return on equity of 21.06%. The business had revenue of $204.10 million during the quarter, compared to analyst estimates of $202.30 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. Equities analysts predict that Luxoft Holding, Inc. will post $3.39 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in LXFT. State Street Corp increased its position in shares of Luxoft Holding by 350.7% in the fourth quarter. State Street Corp now owns 78,901 shares of the software maker’s stock valued at $4,434,000 after buying an additional 61,393 shares in the last quarter. Norges Bank purchased a new position in shares of Luxoft Holding during the fourth quarter valued at approximately $10,023,000. UBS Asset Management Americas Inc. increased its position in shares of Luxoft Holding by 7.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 46,166 shares of the software maker’s stock valued at $2,595,000 after buying an additional 3,200 shares in the last quarter. Janney Capital Management LLC purchased a new position in shares of Luxoft Holding during the first quarter valued at approximately $291,000. Finally, Russell Investments Group Ltd. increased its position in shares of Luxoft Holding by 37.5% in the first quarter. Russell Investments Group Ltd. now owns 278,586 shares of the software maker’s stock valued at $17,426,000 after buying an additional 75,998 shares in the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.

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About Luxoft Holding

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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