Luxoft Holding, Inc. (NYSE:LXFT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other research analysts have also recently issued reports on LXFT. Wedbush cut Luxoft Holding from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $60.80 to $67.00 in a research note on Friday, August 11th. Cowen and Company set a $63.00 price objective on Luxoft Holding and gave the company a “buy” rating in a research note on Friday, August 11th. Berenberg Bank set a $60.00 price objective on Luxoft Holding and gave the company a “buy” rating in a research note on Monday, August 14th. VTB Capital started coverage on Luxoft Holding in a research note on Tuesday, August 15th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Zacks Investment Research cut Luxoft Holding from a “buy” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.14.

Shares of Luxoft Holding (NYSE:LXFT) traded down 1.96% on Friday, hitting $45.05. The stock had a trading volume of 399,792 shares. Luxoft Holding has a 1-year low of $40.15 and a 1-year high of $67.85. The firm has a 50 day moving average of $47.49 and a 200-day moving average of $56.82. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 28.19 and a beta of 1.47.

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Institutional investors have recently bought and sold shares of the company. FMR LLC lifted 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 buying an additional 105,039 shares during the period. Wasatch Advisors Inc. lifted 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 buying an additional 82,333 shares during the period. Prudential PLC lifted 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 buying an additional 18,476 shares during the period. Standard Life Investments LTD lifted 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 buying an additional 200,442 shares during the period. Finally, Credit Suisse AG lifted 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 buying an additional 5,148 shares during the period. Institutional investors own 78.82% of the company’s stock.

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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