Luxoft Holding, Inc. (NYSE:LXFT) – Equities researchers at KeyCorp dropped their Q3 2018 earnings estimates for Luxoft in a research report issued to clients and investors on Monday. KeyCorp analyst A. Ramnani now forecasts that the software maker will post earnings of $0.59 per share for the quarter, down from their previous estimate of $0.62. KeyCorp has a “Overweight” rating on the stock.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Luxoft from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 15th. Cowen restated a “buy” rating and issued a $63.00 price target on shares of Luxoft in a research note on Thursday, October 12th. Credit Suisse Group downgraded Luxoft from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 7th. Wedbush downgraded Luxoft from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $60.80 to $67.00 in a research note on Friday, August 11th. Finally, UBS boosted their price target on Luxoft from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $60.75.

Shares of Luxoft (LXFT) traded up $1.35 during midday trading on Wednesday, hitting $51.90. The stock had a trading volume of 206,200 shares, compared to its average volume of 212,259. Luxoft has a one year low of $40.15 and a one year high of $67.85. The company has a market cap of $1,703.38, a P/E ratio of 24.19 and a beta of 1.48.

Several institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. increased its holdings in Luxoft by 9.1% in the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock worth $122,000 after purchasing an additional 168 shares in the last quarter. Jacobson & Schmitt Advisors LLC increased its holdings in Luxoft by 0.3% in the 2nd quarter. Jacobson & Schmitt Advisors LLC now owns 66,435 shares of the software maker’s stock worth $4,043,000 after purchasing an additional 171 shares in the last quarter. State Street Corp increased its holdings in Luxoft by 2.7% in the 2nd quarter. State Street Corp now owns 20,008 shares of the software maker’s stock worth $1,218,000 after purchasing an additional 523 shares in the last quarter. Pacad Investment Ltd. increased its holdings in Luxoft by 50.0% in the 2nd quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Luxoft by 18.3% in the 2nd quarter. Legal & General Group Plc now owns 7,100 shares of the software maker’s stock worth $432,000 after purchasing an additional 1,100 shares in the last quarter. 52.56% of the stock is owned by 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.

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