Luxoft Holding, Inc. (NYSE:LXFT) was downgraded by investment analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a report released on Thursday, Marketbeat.com reports.

Other equities analysts have also recently issued research reports about the stock. VTB Capital started coverage on shares of Luxoft Holding in a research note on Tuesday, August 15th. They issued a “buy” rating and a $65.00 price objective on the stock. Berenberg Bank set a $60.00 price objective on shares of Luxoft Holding and gave the stock a “buy” rating in a research note on Monday, August 14th. Cowen and Company set a $63.00 target price on shares of Luxoft Holding and gave the stock a “buy” rating in a research note on Friday, August 11th. Cantor Fitzgerald restated a “hold” rating and set a $55.00 target price on shares of Luxoft Holding in a research note on Tuesday, May 23rd. Finally, BidaskClub cut shares of Luxoft Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.38.

Luxoft Holding (NYSE LXFT) traded down 7.35% during mid-day trading on Thursday, hitting $47.30. 618,515 shares of the stock traded hands. The company’s 50 day moving average price is $55.56 and its 200-day moving average price is $59.88. Luxoft Holding has a 1-year low of $40.15 and a 1-year high of $67.85. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 29.60 and a beta of 1.50.

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Institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. grew its holdings 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 buying an additional 168 shares in the last quarter. Bank of America Corp DE grew its holdings 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 buying an additional 1,678 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Luxoft Holding during the 1st quarter valued at approximately $204,000. Pacad Investment Ltd. grew its holdings 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 buying an additional 1,100 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings 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 buying an additional 2,215 shares in the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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