Pivotal Research downgraded shares of Luxoft (NYSE:LXFT) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat reports. Pivotal Research currently has $48.00 price objective on the software maker’s stock.
Several other research firms have also recently weighed in on LXFT. Zacks Investment Research cut shares of Luxoft from a buy rating to a hold rating in a research note on Thursday, January 18th. Cantor Fitzgerald raised shares of Luxoft from a neutral rating to an overweight rating and set a $65.00 target price for the company in a research note on Wednesday, January 17th. UBS Group raised their target price on shares of Luxoft from $51.00 to $55.00 and gave the company a neutral rating in a research note on Monday, November 20th. KeyCorp raised shares of Luxoft from a sector weight rating to an overweight rating in a research note on Tuesday, December 5th. Finally, BidaskClub raised shares of Luxoft from a sell rating to a hold rating in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $59.00.
Luxoft (NYSE:LXFT) opened at $45.53 on Wednesday. Luxoft has a 52 week low of $40.15 and a 52 week high of $67.85. The firm has a market cap of $1,796.05, a price-to-earnings ratio of 27.69 and a beta of 1.42.
A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Luxoft by 157.7% during the fourth 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 period. GCA Investment Management LLC acquired a new stake in shares of Luxoft during the fourth quarter worth $217,000. Two Sigma Investments LP lifted its holdings in shares of Luxoft by 1,633.8% during the fourth quarter. Two Sigma Investments LP now owns 135,828 shares of the software maker’s stock worth $7,566,000 after buying an additional 127,994 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Luxoft by 1,503.1% during the fourth quarter. Two Sigma Advisers LP now owns 142,162 shares of the software maker’s stock worth $7,918,000 after buying an additional 133,294 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Luxoft by 52.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 31,867 shares of the software maker’s stock worth $1,775,000 after buying an additional 11,001 shares in the last quarter. 52.23% of the stock is owned by hedge funds and other institutional investors.
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Luxoft Company Profile
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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