Luxoft (NYSE:LXFT) was downgraded by Pivotal Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $48.00 target price on the software maker’s stock. Pivotal Research’s price target suggests a potential upside of 3.78% from the stock’s current price.
A number of other analysts have also commented on the stock. Cowen lowered shares of Luxoft from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Luxoft from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Investment Research lowered shares of Luxoft from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Cantor Fitzgerald raised shares of Luxoft from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Wednesday, January 17th. Finally, KeyCorp raised shares of Luxoft from a “sector weight” rating to an “overweight” rating in a report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.33.
Shares of Luxoft (LXFT) traded down $7.05 during trading on Wednesday, hitting $46.25. 1,940,001 shares of the company were exchanged, compared to its average volume of 299,513. The firm has a market capitalization of $1,826.38, a price-to-earnings ratio of 27.28 and a beta of 1.42. Luxoft has a fifty-two week low of $40.15 and a fifty-two week high of $67.85.
Several hedge funds have recently made changes to their positions in the company. Wasatch Advisors Inc. grew its holdings in shares of Luxoft by 4.2% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,714,881 shares of the software maker’s stock valued at $81,971,000 after buying an additional 69,234 shares during the period. NWQ Investment Management Company LLC grew its holdings in shares of Luxoft by 90.5% in the 3rd quarter. NWQ Investment Management Company LLC now owns 603,218 shares of the software maker’s stock valued at $28,834,000 after buying an additional 286,497 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Luxoft by 100.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 245,276 shares of the software maker’s stock valued at $11,724,000 after buying an additional 123,126 shares during the period. Grandeur Peak Global Advisors LLC grew its holdings in shares of Luxoft by 6.4% in the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 242,850 shares of the software maker’s stock valued at $11,608,000 after buying an additional 14,625 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Luxoft in the 4th quarter valued at $10,491,000. 52.23% 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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