Luxoft Holding, Inc. (LXFT) Stock Rating Upgraded by Zacks Investment Research
Luxoft Holding, Inc. (NYSE:LXFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 research firms have also recently commented on LXFT. BidaskClub cut shares of Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Wedbush cut shares of Luxoft Holding from an “outperform” rating to a “neutral” rating and upped their price target for the company from $60.80 to $67.00 in a report on Friday, August 11th. UBS AG upped their price target on shares of Luxoft Holding from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, November 20th. Credit Suisse Group cut shares of Luxoft Holding from a “neutral” rating to an “underperform” rating in a report on Thursday, September 7th. Finally, VTB Capital assumed coverage on shares of Luxoft Holding in a report on Tuesday, August 15th. They issued a “buy” rating and a $65.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.50.
Luxoft Holding (NYSE:LXFT) opened at $52.80 on Thursday. Luxoft Holding has a 12-month low of $40.15 and a 12-month high of $67.85. The company has a market cap of $1,770.00, a price-to-earnings ratio of 24.93 and a beta of 1.45.
Institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its holdings in Luxoft Holding by 9.1% in the second quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after acquiring an additional 168 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 valued at $139,000 after acquiring an additional 1,678 shares in the last quarter. Pacad Investment Ltd. increased its stake in Luxoft Holding by 50.0% during the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock valued at $201,000 after purchasing an additional 1,100 shares during the last quarter. Wells Fargo & Company MN increased its stake in Luxoft Holding by 182.0% during the second quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock valued at $209,000 after purchasing an additional 2,215 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Luxoft Holding during the second quarter valued at $210,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.
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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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