Luxoft (NYSE:LXFT) Reaches New 52-Week High at $59.27

Luxoft Holding Inc (NYSE:LXFT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $59.27 and last traded at $58.97, with a volume of 100453 shares. The stock had previously closed at $58.28.

Separately, Zacks Investment Research upgraded shares of Luxoft from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, February 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.67.

The company has a market cap of $1.97 billion, a PE ratio of 28.21 and a beta of 2.18.

Several large investors have recently bought and sold shares of LXFT. Havens Advisors LLC acquired a new stake in Luxoft during the 1st quarter worth $5,146,000. Massachusetts Financial Services Co. MA grew its holdings in Luxoft by 29.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,533,917 shares of the software maker’s stock worth $77,082,000 after acquiring an additional 578,869 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Luxoft by 4.5% in the 4th quarter. Two Sigma Advisers LP now owns 182,901 shares of the software maker’s stock valued at $5,564,000 after buying an additional 7,939 shares during the period. Millennium Management LLC acquired a new position in shares of Luxoft in the 4th quarter valued at $1,875,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Luxoft by 6.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 525,465 shares of the software maker’s stock valued at $15,985,000 after buying an additional 32,523 shares during the period. Institutional investors own 60.90% of the company’s stock.

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About Luxoft (NYSE:LXFT)

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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