Luxoft Holding Inc. (NYSE:LXFT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Several other research analysts have also commented on LXFT. Cantor Fitzgerald reissued a “hold” rating on shares of Luxoft Holding in a report on Monday, July 25th. Berenberg Bank reissued a “hold” rating on shares of Luxoft Holding in a report on Tuesday, August 16th. Wedbush initiated coverage on Luxoft Holding in a report on Thursday, September 8th. They set a “neutral” rating and a $62.00 price objective for the company. Pacific Crest reissued a “hold” rating on shares of Luxoft Holding in a report on Wednesday, November 9th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $80.00 price objective on shares of Luxoft Holding in a report on Friday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.42.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

Shares of Luxoft Holding (NYSE:LXFT) opened at 53.70 on Wednesday. Luxoft Holding has a 12 month low of $46.58 and a 12 month high of $80.64. The stock’s 50 day moving average is $52.29 and its 200 day moving average is $54.91. The firm has a market cap of $1.78 billion, a P/E ratio of 29.01 and a beta of 1.55.

Several hedge funds have recently added to or reduced their stakes in LXFT. Keel Point LLC raised its stake in Luxoft Holding by 0.3% in the second quarter. Keel Point LLC now owns 8,365 shares of the company’s stock worth $435,000 after buying an additional 24 shares during the period. Boston Advisors LLC raised its stake in Luxoft Holding by 0.6% in the second quarter. Boston Advisors LLC now owns 10,005 shares of the company’s stock worth $520,000 after buying an additional 55 shares during the period. Jacobson & Schmitt Advisors LLC raised its stake in Luxoft Holding by 0.5% in the second quarter. Jacobson & Schmitt Advisors LLC now owns 65,971 shares of the company’s stock worth $3,432,000 after buying an additional 320 shares during the period. PNC Financial Services Group Inc. raised its stake in Luxoft Holding by 4.9% in the second quarter. PNC Financial Services Group Inc. now owns 17,149 shares of the company’s stock worth $892,000 after buying an additional 796 shares during the period. Finally, Westpac Banking Corp raised its stake in 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 during the period. 91.01% 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.

5 Day Chart for NYSE:LXFT

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