Luxoft (NYSE:LXFT) was upgraded by stock analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

LXFT has been the topic of a number of other research reports. Pivotal Research started coverage on Luxoft in a research note on Tuesday. They set a “buy” rating and a $70.00 price objective on the stock. Berenberg Bank set a $60.00 price objective on Luxoft and gave the company a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research raised Luxoft from a “sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a research note on Thursday, November 23rd. VTB Capital started coverage on Luxoft in a research note on Tuesday, August 15th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $47.00 price objective on shares of Luxoft in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Luxoft currently has an average rating of “Hold” and a consensus target price of $60.75.

Shares of Luxoft (NYSE LXFT) traded down $0.60 during mid-day trading on Tuesday, hitting $50.55. The stock had a trading volume of 143,100 shares, compared to its average volume of 212,285. Luxoft has a twelve month low of $40.15 and a twelve month high of $67.85. The stock has a market capitalization of $1,723.60, a PE ratio of 24.47 and a beta of 1.48.

A number of large investors have recently modified their holdings of LXFT. NWQ Investment Management Company LLC boosted its stake in Luxoft by 90.5% in the 3rd quarter. NWQ Investment Management Company LLC now owns 603,218 shares of the software maker’s stock worth $28,834,000 after buying an additional 286,497 shares during the last quarter. Standard Life Investments LTD boosted its stake in Luxoft by 153.9% in the 2nd 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 last quarter. Dimensional Fund Advisors LP boosted its stake in Luxoft by 100.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 245,276 shares of the software maker’s stock worth $11,724,000 after buying an additional 123,126 shares during the last quarter. FMR LLC boosted its stake in Luxoft by 5.4% in the 2nd 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 last quarter. Finally, Wasatch Advisors Inc. boosted its stake in Luxoft by 5.3% in the 2nd 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 last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

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Luxoft 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 (NYSE:LXFT)

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