BidaskClub Lowers Luxoft Holding, Inc. (LXFT) to Sell

BidaskClub cut shares of Luxoft Holding, Inc. (NYSE:LXFT) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

LXFT has been the subject of a number of other reports. VTB Capital assumed coverage on Luxoft Holding in a research note on Tuesday, August 15th. They issued a buy rating and a $65.00 price target for the company. Cowen and Company set a $63.00 price target on Luxoft Holding and gave the stock a buy rating in a research note on Friday, August 11th. Credit Suisse Group downgraded Luxoft Holding from a neutral rating to an underperform rating in a research note on Thursday, September 7th. Zacks Investment Research downgraded Luxoft Holding from a buy rating to a strong sell rating in a research note on Wednesday, August 16th. Finally, Wedbush downgraded Luxoft Holding from an outperform rating to a neutral rating and lifted their price target for the stock from $60.80 to $67.00 in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Luxoft Holding currently has a consensus rating of Hold and a consensus price target of $65.14.

Shares of Luxoft Holding (NYSE:LXFT) opened at 46.20 on Friday. The stock has a 50 day moving average price of $47.44 and a 200 day moving average price of $56.65. The stock has a market capitalization of $1.55 billion, a P/E ratio of 28.91 and a beta of 1.48. Luxoft Holding has a 12-month low of $40.15 and a 12-month high of $67.85.

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A number of hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in Luxoft Holding in the second quarter valued at approximately $344,000. Wasatch Advisors Inc. boosted its stake in Luxoft Holding by 5.3% in the second quarter. Wasatch Advisors Inc. now owns 1,645,647 shares of the software maker’s stock valued at $100,138,000 after acquiring an additional 82,333 shares during the period. Bank of Nova Scotia acquired a new position in Luxoft Holding in the second quarter valued at approximately $913,000. The Manufacturers Life Insurance Company boosted its stake in Luxoft Holding by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 183,632 shares of the software maker’s stock valued at $11,174,000 after acquiring an additional 6,955 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Luxoft Holding in the second quarter valued at approximately $952,000. Institutional investors own 78.68% of the company’s stock.

About Luxoft Holding

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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