Candriam Luxembourg S.C.A. cut its position in Luxoft Holding, Inc. (NYSE:LXFT) by 43.5% during the second quarter, Holdings Channel reports. The fund owned 13,000 shares of the software maker’s stock after selling 10,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Luxoft Holding were worth $791,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Luxoft Holding by 305.1% in the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after buying an additional 1,678 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Luxoft Holding during the first quarter worth approximately $204,000. Eqis Capital Management Inc. acquired a new stake in shares of Luxoft Holding during the first quarter worth approximately $234,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Luxoft Holding during the second quarter worth approximately $237,000. Finally, Janney Capital Management LLC acquired a new stake in shares of Luxoft Holding during the first quarter worth approximately $291,000. 94.78% of the stock is owned by institutional investors.

Shares of Luxoft Holding, Inc. (LXFT) opened at 48.45 on Tuesday. Luxoft Holding, Inc. has a 52 week low of $40.15 and a 52 week high of $67.85. The company has a 50-day moving average price of $61.01 and a 200-day moving average price of $61.04. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 30.32 and a beta of 1.46.

Luxoft Holding (NYSE:LXFT) last announced its quarterly earnings data on Monday, May 22nd. The software maker reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The business had revenue of $204.10 million during the quarter, compared to the consensus estimate of $202.30 million. Luxoft Holding had a net margin of 7.97% and a return on equity of 21.06%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. Equities analysts anticipate that Luxoft Holding, Inc. will post $3.12 EPS for the current year.

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A number of analysts recently commented on the company. UBS AG reaffirmed a “neutral” rating and issued a $66.00 price target (up previously from $63.00) on shares of Luxoft Holding in a research note on Thursday, May 25th. Berenberg Bank set a $60.00 price target on Luxoft Holding and gave the stock a “buy” rating in a research note on Monday. BidaskClub lowered Luxoft Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $55.00 price target on shares of Luxoft Holding in a research note on Tuesday, May 23rd. Finally, Cowen and Company set a $63.00 price target on Luxoft Holding and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $64.29.

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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Institutional Ownership by Quarter for Luxoft Holding (NYSE:LXFT)

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