KeyCorp upgraded shares of Luxoft (NYSE:LXFT) from a sector weight rating to an overweight rating in a research note published on Tuesday morning. KeyCorp also issued estimates for Luxoft’s Q3 2018 earnings at $0.59 EPS.

LXFT has been the subject of several other reports. Zacks Investment Research downgraded shares of Luxoft from a hold rating to a strong sell rating in a research report on Wednesday, November 15th. Cowen restated a buy rating and set a $63.00 price objective on shares of Luxoft in a research report on Thursday, October 12th. Credit Suisse Group downgraded shares of Luxoft from a neutral rating to an underperform rating in a research report on Thursday, September 7th. Wedbush downgraded shares of Luxoft from an outperform rating to a neutral rating and raised their price objective for the stock from $60.80 to $67.00 in a research report on Friday, August 11th. Finally, UBS raised their price objective on shares of Luxoft from $51.00 to $55.00 and gave the stock a neutral rating in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $60.75.

Shares of Luxoft (LXFT) traded up $1.35 during mid-day trading on Tuesday, reaching $51.90. 206,200 shares of the company’s stock traded hands, compared to its average volume of 212,259. The firm has a market capitalization of $1,703.38, a P/E ratio of 24.19 and a beta of 1.48. Luxoft has a 1 year low of $40.15 and a 1 year high of $67.85.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AXA raised its position in Luxoft by 11.1% during the second quarter. AXA now owns 294,979 shares of the software maker’s stock valued at $17,949,000 after purchasing an additional 29,362 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Luxoft during the first quarter valued at approximately $3,568,000. Dupont Capital Management Corp raised its position in Luxoft by 23.7% during the third quarter. Dupont Capital Management Corp now owns 11,577 shares of the software maker’s stock valued at $553,000 after purchasing an additional 2,221 shares in the last quarter. FMR LLC raised its position in Luxoft by 5.4% during the second quarter. FMR LLC now owns 2,058,143 shares of the software maker’s stock valued at $125,239,000 after purchasing an additional 105,039 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its position in Luxoft by 5.3% during the second quarter. Wasatch Advisors Inc. now owns 1,645,647 shares of the software maker’s stock valued at $100,138,000 after purchasing an additional 82,333 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

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Luxoft Company Profile

Luxoft Holding, Inc, is a provider of software development services and information technology (IT) solutions to a global client base consisting primarily of large multinational corporations. The Company’s software development services consist of custom software development and support, product engineering and testing, and technology consulting.

Analyst Recommendations for Luxoft (NYSE:LXFT)

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