Westpac Banking Corp decreased its position in Luxoft Holding Inc. (NYSE:LXFT) by 20.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,813 shares of the company’s stock after selling 3,015 shares during the period. Westpac Banking Corp’s holdings in Luxoft Holding were worth $615,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of LXFT. Quantbot Technologies LP increased its stake in Luxoft Holding by 1,599.4% in the second quarter. Quantbot Technologies LP now owns 2,906 shares of the company’s stock valued at $151,000 after buying an additional 2,735 shares during the period. Amica Retiree Medical Trust increased its stake in 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 during the period. Prudential Financial Inc. purchased a new stake in Luxoft Holding during the first quarter valued at $339,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Luxoft Holding during the first quarter valued at $360,000. Finally, Keel Point LLC increased 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 valued at $435,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 87.74% of the company’s stock.
Luxoft Holding Inc. (NYSE:LXFT) opened at 54.16 on Wednesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 26.42 and a beta of 1.56. The stock has a 50 day moving average price of $52.32 and a 200 day moving average price of $55.72. Luxoft Holding Inc. has a 52-week low of $46.58 and a 52-week high of $80.64.
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 earned $178 million during the quarter, compared to the consensus estimate of $176.39 million. Luxoft Holding had a return on equity of 24.69% and a net margin of 10.24%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. Equities research analysts forecast that Luxoft Holding Inc. will post $2.92 earnings per share for the current year.
LXFT has been the topic of several recent research reports. Zacks Investment Research downgraded Luxoft Holding from a “hold” rating to a “sell” rating in a report on Wednesday, August 17th. Cantor Fitzgerald reissued a “hold” rating and set a $61.00 price objective on shares of Luxoft Holding in a report on Wednesday, July 6th. Wedbush began coverage on Luxoft Holding in a report on Thursday, September 8th. They set a “neutral” rating and a $62.00 price objective on the stock. Monness Crespi & Hardt cut their target price on Luxoft Holding from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday, June 28th. Finally, Pacific Crest began coverage on 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 assigned a buy rating to the company’s stock. Luxoft Holding presently has a consensus rating of “Hold” and an average price target of $68.80.
Luxoft Holding Company Profile
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.
Want to see what other hedge funds are holding LXFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Luxoft Holding Inc. (NYSE:LXFT).
Receive News & Ratings for Luxoft Holding Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luxoft Holding Inc. and related companies with MarketBeat.com's FREE daily email newsletter.