Luxoft Holding, Inc. (LXFT) Lowered to Underperform at Credit Suisse Group
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.
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