Luxoft Holding, Inc. (LXFT) Stake Increased by NWQ Investment Management Company LLC
NWQ Investment Management Company LLC lifted its holdings in Luxoft Holding, Inc. (NYSE:LXFT) by 90.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,218 shares of the software maker’s stock after purchasing an additional 286,497 shares during the quarter. NWQ Investment Management Company LLC owned about 2.72% of Luxoft worth $28,834,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of LXFT. D.A. Davidson & CO. boosted its position in shares of Luxoft by 9.1% in the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock worth $122,000 after purchasing an additional 168 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Luxoft by 305.1% in the 1st quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after purchasing an additional 1,678 shares in the last quarter. Pacad Investment Ltd. boosted its position in shares of Luxoft by 50.0% in the 2nd quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,100 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Luxoft by 182.0% in the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after purchasing an additional 2,215 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Luxoft in the 2nd quarter worth $210,000. 52.56% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. Pivotal Research assumed coverage on Luxoft in a research report on Tuesday. They issued a “buy” rating and a $70.00 price objective for the company. KeyCorp raised Luxoft from a “sector weight” rating to an “overweight” rating in a research report on Tuesday. Berenberg Bank set a $60.00 price objective on Luxoft and gave the stock a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research cut Luxoft from a “buy” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $47.00 target price on shares of Luxoft in a research note on Friday, November 17th. Two equities research 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’s stock. Luxoft presently has a consensus rating of “Hold” and an average target price of $60.75.
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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.
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