Luxoft Holding Inc (NYSE:LXFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Luxoft Holding, Inc. offers software development services and information technology solutions. Its software development services consist of software development and support, product engineering and testing and technology consulting. The Company focuses on six industry verticals: financial services, travel and aviation, technology, telecom, automotive and transport and energy. It operates primarily in Western Europe and North America. Luxoft Holding, Inc. is based in Tortola, Virgin Islands. “
Other equities analysts have also issued reports about the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price objective on shares of Luxoft Holding in a research note on Thursday, February 16th. Wedbush upgraded Luxoft Holding from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $62.00 to $67.00 in a research note on Friday, January 6th. Finally, Cowen and Company upgraded Luxoft Holding from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Monday, December 19th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $68.00.
Shares of Luxoft Holding (NYSE:LXFT) opened at 60.40 on Thursday. The firm’s 50-day moving average price is $58.34 and its 200 day moving average price is $55.48. Luxoft Holding has a 52 week low of $46.58 and a 52 week high of $66.18. The company has a market cap of $2.01 billion, a P/E ratio of 32.14 and a beta of 1.52.
Luxoft Holding (NYSE:LXFT) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.01. The business earned $206.90 million during the quarter, compared to the consensus estimate of $207.73 million. Luxoft Holding had a return on equity of 22.83% and a net margin of 8.80%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, equities analysts predict that Luxoft Holding will post $2.89 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Luxoft Holding during the fourth quarter valued at about $10,023,000. Numeric Investors LLC raised its position in shares of Luxoft Holding by 50.4% in the fourth quarter. Numeric Investors LLC now owns 55,800 shares of the company’s stock valued at $3,136,000 after buying an additional 18,700 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Luxoft Holding during the fourth quarter valued at about $3,877,000. Ellington Management Group LLC raised its position in shares of Luxoft Holding by 44.7% in the fourth quarter. Ellington Management Group LLC now owns 5,500 shares of the company’s stock valued at $309,000 after buying an additional 1,700 shares in the last quarter. Finally, NWQ Investment Management Company LLC raised its position in shares of Luxoft Holding by 25.4% in the fourth quarter. NWQ Investment Management Company LLC now owns 318,264 shares of the company’s stock valued at $17,886,000 after buying an additional 64,478 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.
Luxoft Holding Company Profile
Luxoft Holding, Inc is a provider of software development services and information technology solutions to a client base consisting of 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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