Luxoft Holding, Inc. (NYSE:LXFT) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a report released on Wednesday.

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 analysts also recently commented on the stock. VTB Capital assumed coverage on shares of Luxoft Holding in a research note on Tuesday. They set a “buy” rating and a $65.00 price objective for the company. Berenberg Bank set a $60.00 price objective on shares of Luxoft Holding and gave the company a “buy” rating in a research note on Monday. Cowen and Company set a $63.00 price objective on shares of Luxoft Holding and gave the company a “buy” rating in a research note on Friday, August 11th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $55.00 price objective on shares of Luxoft Holding in a research note on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Luxoft Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Luxoft Holding currently has an average rating of “Hold” and a consensus price target of $64.38.

Shares of Luxoft Holding (LXFT) traded up 2.24% during midday trading on Wednesday, hitting $50.20. 457,776 shares of the stock were exchanged. Luxoft Holding has a 12-month low of $40.15 and a 12-month high of $67.85. The firm has a 50-day moving average price of $60.26 and a 200 day moving average price of $60.88. The firm has a market cap of $1.68 billion, a PE ratio of 31.41 and a beta of 1.46.

Luxoft Holding (NYSE:LXFT) last announced its earnings results on Monday, May 22nd. The software maker reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.05. Luxoft Holding had a net margin of 6.72% and a return on equity of 19.36%. The firm had revenue of $204.10 million during the quarter, compared to analyst estimates of $202.30 million. During the same period in the previous year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Analysts predict that Luxoft Holding will post $3.03 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of LXFT. Alliancebernstein L.P. purchased a new stake in shares of Luxoft Holding during the first quarter worth about $918,000. Clinton Group Inc. boosted its stake in shares of Luxoft Holding by 20.2% in the first quarter. Clinton Group Inc. now owns 9,045 shares of the software maker’s stock worth $566,000 after buying an additional 1,522 shares during the last quarter. Comgest Global Investors S.A.S. boosted its stake in shares of Luxoft Holding by 43.1% in the first quarter. Comgest Global Investors S.A.S. now owns 238,500 shares of the software maker’s stock worth $14,918,000 after buying an additional 71,800 shares during the last quarter. Oxford Asset Management purchased a new stake in shares of Luxoft Holding during the first quarter worth about $1,654,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Luxoft Holding by 53.0% in the first quarter. Parametric Portfolio Associates LLC now owns 58,910 shares of the software maker’s stock worth $3,685,000 after buying an additional 20,396 shares during the last quarter. Institutional investors and hedge funds own 94.78% of the company’s stock.

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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Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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