Shares of Luxoft Holding Inc (NYSE:LXFT) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $56.89.
A number of research firms have recently commented on LXFT. KeyCorp cut their price objective on Luxoft from $66.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday, February 15th. Cowen downgraded Luxoft from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $63.00 to $50.00 in a report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their target price on Luxoft from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Pivotal Research downgraded Luxoft from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $47.00 target price on shares of Luxoft in a report on Friday, November 17th.
Several large investors have recently made changes to their positions in the stock. Grandeur Peak Global Advisors LLC raised its holdings in shares of Luxoft by 12.5% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 273,325 shares of the software maker’s stock valued at $15,224,000 after buying an additional 30,475 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd purchased a new stake in Luxoft during the 4th quarter worth approximately $1,456,000. Millennium Management LLC increased its holdings in Luxoft by 157.7% during the 4th quarter. Millennium Management LLC now owns 211,321 shares of the software maker’s stock worth $11,771,000 after purchasing an additional 129,305 shares during the last quarter. GCA Investment Management LLC purchased a new stake in Luxoft during the 4th quarter worth approximately $217,000. Finally, Two Sigma Investments LP increased its holdings in Luxoft by 1,633.8% during the 4th quarter. Two Sigma Investments LP now owns 135,828 shares of the software maker’s stock worth $7,566,000 after purchasing an additional 127,994 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.
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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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