Luxoft (LXFT) Lowered to “Hold” at Pivotal Research

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.

Luxoft (NYSE:LXFT) last released its earnings results on Thursday, November 16th. The software maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. Luxoft had a net margin of 6.72% and a return on equity of 17.81%. The firm had revenue of $228.03 million during the quarter, compared to analyst estimates of $227.09 million. research analysts forecast that Luxoft will post 2.18 EPS for the current year.

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.

Analyst Recommendations for Luxoft (NYSE:LXFT)

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