Shares of Luxoft Holding, Inc. (NYSE:LXFT) traded up 13.3% on Friday . The stock traded as high as $54.42 and last traded at $53.20. 732,825 shares traded hands during mid-day trading, an increase of 252% from the average session volume of 208,375 shares. The stock had previously closed at $46.95.

Several analysts recently weighed in on the company. VTB Capital assumed coverage on Luxoft Holding in a research note on Tuesday, August 15th. They issued a “buy” rating and a $65.00 price target on the stock. 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, August 11th. KeyCorp restated a “hold” rating on shares of Luxoft Holding in a research note on Friday, November 3rd. Credit Suisse Group downgraded Luxoft Holding from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 7th. Finally, Zacks Investment Research downgraded Luxoft Holding from a “buy” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.33.

The company has a market cap of $1,177.64, a P/E ratio of 25.45 and a beta of 1.45.

A number of institutional investors and hedge funds have recently modified their holdings of LXFT. D.A. Davidson & CO. boosted its stake in Luxoft Holding by 9.1% during the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after purchasing an additional 168 shares during the last quarter. Bank of America Corp DE boosted its stake in Luxoft Holding by 305.1% during the 1st quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock valued at $139,000 after purchasing an additional 1,678 shares during the last quarter. Pacad Investment Ltd. boosted its stake in Luxoft Holding by 50.0% during the 2nd 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 boosted its stake in Luxoft Holding by 182.0% during the 2nd 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 purchased a new stake in Luxoft Holding during the 2nd quarter valued at $210,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

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Luxoft Holding Company Profile

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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