Luxoft Holding, Inc. (NYSE:LXFT)‘s stock had its “buy” rating restated by equities research analysts at Cowen and Company in a research note issued to investors on Thursday. They currently have a $63.00 price objective on the software maker’s stock. Cowen and Company’s price target would indicate a potential upside of 35.48% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Berenberg Bank set a $60.00 price objective on shares of Luxoft Holding and gave the company a “buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Luxoft Holding from a “buy” rating to a “strong sell” rating in a report on Wednesday, August 16th. KeyCorp reissued a “hold” rating on shares of Luxoft Holding in a report on Thursday, September 28th. VTB Capital assumed coverage on shares of Luxoft Holding in a report on Tuesday, August 15th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Wedbush lowered shares of Luxoft Holding from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $60.80 to $67.00 in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $65.14.

Shares of Luxoft Holding (NYSE LXFT) traded down 1.17% during mid-day trading on Thursday, hitting $46.50. The stock had a trading volume of 357,101 shares. The company’s 50 day moving average is $48.05 and its 200-day moving average is $57.91. The stock has a market cap of $1.56 billion, a P/E ratio of 29.10 and a beta of 1.47. Luxoft Holding has a 52-week low of $40.15 and a 52-week high of $67.85.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Luxoft Holding by 5.4% in the second quarter. FMR LLC now owns 2,058,143 shares of the software maker’s stock worth $125,239,000 after purchasing an additional 105,039 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in Luxoft Holding by 5.3% in the second quarter. Wasatch Advisors Inc. now owns 1,645,647 shares of the software maker’s stock worth $100,138,000 after purchasing an additional 82,333 shares during the last quarter. Prudential PLC grew its holdings in Luxoft Holding by 2.4% in the second quarter. Prudential PLC now owns 782,042 shares of the software maker’s stock worth $47,587,000 after purchasing an additional 18,476 shares during the last quarter. Standard Life Investments LTD grew its holdings in Luxoft Holding by 153.9% in the second quarter. Standard Life Investments LTD now owns 330,669 shares of the software maker’s stock worth $20,114,000 after purchasing an additional 200,442 shares during the last quarter. Finally, Credit Suisse AG grew its holdings in Luxoft Holding by 1.6% in the first quarter. Credit Suisse AG now owns 322,811 shares of the software maker’s stock worth $20,192,000 after purchasing an additional 5,148 shares during the last quarter. 80.02% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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