Sloane Robinson LLP lowered its position in shares of Luxoft Holding Inc (NYSE:LXFT) by 29.4% during the third quarter, HoldingsChannel reports. The firm owned 116,500 shares of the software maker’s stock after selling 48,532 shares during the quarter. Luxoft makes up about 4.0% of Sloane Robinson LLP’s portfolio, making the stock its 9th largest holding. Sloane Robinson LLP’s holdings in Luxoft were worth $5,516,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of LXFT. Massachusetts Financial Services Co. MA purchased a new position in shares of Luxoft during the second quarter worth about $39,465,000. Barings LLC grew its holdings in shares of Luxoft by 51.3% during the third quarter. Barings LLC now owns 533,018 shares of the software maker’s stock worth $25,238,000 after buying an additional 180,650 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Luxoft during the third quarter worth about $7,086,000. Dimensional Fund Advisors LP grew its holdings in shares of Luxoft by 22.9% during the second quarter. Dimensional Fund Advisors LP now owns 404,533 shares of the software maker’s stock worth $14,906,000 after buying an additional 75,366 shares during the last quarter. Finally, Horrell Capital Management Inc. purchased a new position in shares of Luxoft during the second quarter worth about $2,288,000. Institutional investors and hedge funds own 55.98% of the company’s stock.
A number of equities analysts recently issued reports on the company. Credit Suisse Group set a $48.00 price target on Luxoft and gave the stock a “hold” rating in a report on Monday, October 15th. Zacks Investment Research raised Luxoft from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. VTB Capital lowered Luxoft from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. KeyCorp raised their price target on Luxoft from $47.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Finally, Cantor Fitzgerald raised their price target on Luxoft from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $51.11.
Shares of LXFT opened at $42.72 on Tuesday. Luxoft Holding Inc has a twelve month low of $31.50 and a twelve month high of $59.05. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 20.44 and a beta of 1.73.
Luxoft (NYSE:LXFT) last announced its quarterly earnings data on Wednesday, August 15th. The software maker reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.28. Luxoft had a return on equity of 15.44% and a net margin of 6.09%. The company had revenue of $212.79 million for the quarter, compared to analyst estimates of $212.44 million. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Luxoft Holding Inc will post 1.81 earnings per share for the current fiscal year.
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Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.
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