California Public Employees Retirement System cut its position in Luxoft Holding Inc. (NYSE:LXFT) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,800 shares of the company’s stock after selling 800 shares during the period. California Public Employees Retirement System owned about 0.15% of Luxoft Holding worth $2,643,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP increased its position in Luxoft Holding by 1,599.4% in the second quarter. Quantbot Technologies LP now owns 2,906 shares of the company’s stock worth $151,000 after buying an additional 2,735 shares during the last quarter. Amica Retiree Medical Trust increased its position in shares of Luxoft Holding by 108.1% in the second quarter. Amica Retiree Medical Trust now owns 4,148 shares of the company’s stock valued at $216,000 after buying an additional 2,155 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Luxoft Holding during the first quarter valued at $339,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Luxoft Holding during the first quarter valued at $360,000. Finally, Keel Point LLC increased its position in shares of Luxoft Holding by 0.3% in the second quarter. Keel Point LLC now owns 8,365 shares of the company’s stock valued at $435,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.
Luxoft Holding Inc. (NYSE:LXFT) traded up 3.34% during trading on Friday, hitting $53.17. 511,458 shares of the stock traded hands. Luxoft Holding Inc. has a 52-week low of $46.58 and a 52-week high of $80.64. The stock has a 50 day moving average price of $52.38 and a 200-day moving average price of $55.74. The stock has a market cap of $1.76 billion, a P/E ratio of 25.94 and a beta of 1.56.
Luxoft Holding (NYSE:LXFT) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Luxoft Holding had a return on equity of 24.69% and a net margin of 10.24%. The business earned $178 million during the quarter, compared to analyst estimates of $176.39 million. During the same quarter last year, the company posted $0.61 EPS. Luxoft Holding’s quarterly revenue was up 20.3% compared to the same quarter last year. On average, analysts anticipate that Luxoft Holding Inc. will post $2.92 EPS for the current fiscal year.
Several equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Luxoft Holding from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Wedbush assumed coverage on shares of Luxoft Holding in a report on Thursday, September 8th. They set a “neutral” rating and a $62.00 price target on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $55.00 price target on shares of Luxoft Holding in a report on Wednesday, September 7th. Berenberg Bank reaffirmed a “hold” rating on shares of Luxoft Holding in a report on Tuesday, August 16th. Finally, Pacific Crest assumed coverage on shares of Luxoft Holding in a report on Tuesday, July 12th. They set a “sector weight” rating on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.80.
About Luxoft Holding
Luxoft Holding, Inc is a provider of software development services and information technology (IT) solutions. The Company’s software development services consist of custom software development and support, product engineering and testing and technology consulting. The Company’s services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements.
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