Millennium Management LLC raised its stake in Luxoft Holding Inc (NYSE:LXFT) by 157.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 211,321 shares of the software maker’s stock after buying an additional 129,305 shares during the quarter. Millennium Management LLC’s holdings in Luxoft were worth $11,771,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of LXFT. GCA Investment Management LLC bought a new stake in Luxoft in the fourth quarter valued at $217,000. Janney Capital Management LLC lifted its stake in Luxoft by 75.4% in the third quarter. Janney Capital Management LLC now owns 8,898 shares of the software maker’s stock valued at $425,000 after buying an additional 3,825 shares during the last quarter. Brown Advisory Inc. bought a new stake in Luxoft in the fourth quarter valued at $446,000. Wells Fargo & Company MN lifted its stake in Luxoft by 185.5% in the third quarter. Wells Fargo & Company MN now owns 9,797 shares of the software maker’s stock valued at $468,000 after buying an additional 6,365 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Luxoft by 104.6% in the second quarter. Vanguard Group Inc. now owns 7,824 shares of the software maker’s stock valued at $476,000 after buying an additional 4,000 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.
A number of equities research analysts have issued reports on the company. ValuEngine cut Luxoft from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. VTB Capital upgraded Luxoft from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase lowered their price target on Luxoft from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Cowen lowered Luxoft from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $63.00 to $50.00 in a report on Wednesday, February 14th. Finally, Zacks Investment Research lowered Luxoft from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.82.
Luxoft (NYSE:LXFT) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $236.61 million for the quarter, compared to analyst estimates of $241.78 million. Luxoft had a return on equity of 17.07% and a net margin of 6.72%. sell-side analysts predict that Luxoft Holding Inc will post 2.03 EPS for the current fiscal year.
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Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations primarily in Europe and the United States. It offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.
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