Luxoft Holding Inc. (LXFT) Rating Lowered to Hold at Zacks Investment Research
Luxoft Holding Inc. (NYSE:LXFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
LXFT has been the subject of several other research reports. Cantor Fitzgerald restated a “hold” rating and set a $55.00 price target on shares of Luxoft Holding in a report on Wednesday, September 7th. Berenberg Bank restated a “hold” rating on shares of Luxoft Holding in a report on Tuesday, August 16th. Pacific Crest started coverage on Luxoft Holding in a report on Tuesday, July 12th. They set a “sector weight” rating for the company. Finally, Wedbush started coverage on Luxoft Holding in a report on Thursday, September 8th. They set a “neutral” rating and a $62.00 price target for the company. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Luxoft Holding currently has an average rating of “Hold” and an average price target of $67.82.
Shares of Luxoft Holding (NYSE:LXFT) opened at 48.85 on Wednesday. The stock has a market cap of $1.62 billion, a PE ratio of 23.83 and a beta of 1.55. Luxoft Holding has a 12 month low of $46.58 and a 12 month high of $80.64. The firm has a 50-day moving average price of $52.23 and a 200-day moving average price of $55.09.
Luxoft Holding (NYSE:LXFT) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by $0.01. The firm had revenue of $178 million for the quarter, compared to analysts’ expectations of $176.39 million. Luxoft Holding had a net margin of 10.24% and a return on equity of 24.69%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. Equities analysts forecast that Luxoft Holding will post $2.91 EPS for the current year.
Large investors have recently modified their holdings of the company. Citadel Advisors LLC raised its stake in shares of Luxoft Holding by 15.0% in the third quarter. Citadel Advisors LLC now owns 6,157 shares of the company’s stock worth $325,000 after buying an additional 801 shares in the last quarter. Morgan Stanley raised its stake in shares of Luxoft Holding by 28.2% in the third quarter. Morgan Stanley now owns 1,866,339 shares of the company’s stock worth $98,636,000 after buying an additional 410,593 shares in the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA acquired a new stake in shares of Luxoft Holding during the third quarter worth about $1,283,000. Northern Trust Corp raised its stake in shares of Luxoft Holding by 3.8% in the third quarter. Northern Trust Corp now owns 32,853 shares of the company’s stock worth $1,736,000 after buying an additional 1,189 shares in the last quarter. Finally, Westpac Banking Corp raised its stake in shares of Luxoft Holding by 6.7% in the third quarter. Westpac Banking Corp now owns 12,609 shares of the company’s stock worth $666,000 after buying an additional 796 shares in the last quarter. 89.28% of the stock is owned by hedge funds and other institutional investors.
About Luxoft Holding
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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