ValuEngine upgraded shares of Luxoft (NYSE:LXFT) from a hold rating to a buy rating in a research note published on Monday morning.
Other equities analysts have also issued research reports about the company. VTB Capital lowered Luxoft from a buy rating to a hold rating in a research note on Thursday, September 13th. Credit Suisse Group raised their target price on Luxoft from $35.00 to $48.00 and gave the stock a hold rating in a research note on Thursday, September 20th. Zacks Investment Research upgraded Luxoft from a sell rating to a hold rating in a research note on Saturday, September 22nd. KeyCorp reduced their target price on Luxoft from $57.00 to $52.00 and set an overweight rating for the company in a research note on Tuesday, November 13th. Finally, Cantor Fitzgerald restated a buy rating and issued a $52.00 target price on shares of Luxoft in a research note on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Luxoft currently has an average rating of Hold and an average price target of $48.89.
Shares of LXFT traded up $0.10 during midday trading on Monday, hitting $57.30. 33,864 shares of the company’s stock traded hands, compared to its average volume of 1,124,234. Luxoft has a 1 year low of $29.73 and a 1 year high of $58.80. The firm has a market cap of $1.93 billion, a PE ratio of 27.42 and a beta of 1.46.
Luxoft (NYSE:LXFT) last issued its quarterly earnings data on Thursday, November 15th. The software maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.47 by $0.07. Luxoft had a return on equity of 14.00% and a net margin of 5.64%. The firm had revenue of $228.41 million during the quarter, compared to analyst estimates of $229.42 million. Research analysts forecast that Luxoft will post 1.76 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Luxoft by 1.3% during the 3rd quarter. FMR LLC now owns 2,242,332 shares of the software maker’s stock valued at $106,174,000 after buying an additional 28,998 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Luxoft by 82.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,955,048 shares of the software maker’s stock valued at $92,571,000 after buying an additional 884,095 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Luxoft by 140.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,392,572 shares of the software maker’s stock valued at $65,938,000 after buying an additional 813,800 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. purchased a new position in shares of Luxoft during the 3rd quarter valued at about $39,610,000. Finally, Alliancebernstein L.P. raised its stake in shares of Luxoft by 12.5% during the 3rd quarter. Alliancebernstein L.P. now owns 659,550 shares of the software maker’s stock valued at $31,230,000 after buying an additional 73,120 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.
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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