Luxoft Holding, Inc. (LXFT) Receives Average Rating of “Hold” from Brokerages

Shares of Luxoft Holding, Inc. (NYSE:LXFT) have been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $65.14.

A number of analysts have weighed in on the stock. VTB Capital assumed coverage on shares of Luxoft Holding in a research note on Tuesday, August 15th. They set a “buy” rating and a $65.00 target price on the stock. Cowen and Company set a $63.00 target price on shares of Luxoft Holding and gave the stock a “buy” rating in a research note on Friday, August 11th. Credit Suisse Group cut shares of Luxoft Holding from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 7th. Zacks Investment Research cut shares of Luxoft Holding from a “buy” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, Wedbush cut shares of Luxoft Holding from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $60.80 to $67.00 in a research note on Friday, August 11th.

Several institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Luxoft Holding by 5.4% in the second quarter. FMR LLC now owns 2,058,143 shares of the software maker’s stock worth $125,239,000 after purchasing an additional 105,039 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of Luxoft Holding by 5.3% in the second quarter. Wasatch Advisors Inc. now owns 1,645,647 shares of the software maker’s stock worth $100,138,000 after purchasing an additional 82,333 shares during the last quarter. Prudential PLC grew its stake in shares of Luxoft Holding by 2.4% in the second quarter. Prudential PLC now owns 782,042 shares of the software maker’s stock worth $47,587,000 after purchasing an additional 18,476 shares during the last quarter. Standard Life Investments LTD grew its stake in shares of Luxoft Holding by 153.9% in the second quarter. Standard Life Investments LTD now owns 330,669 shares of the software maker’s stock worth $20,114,000 after purchasing an additional 200,442 shares during the last quarter. Finally, Credit Suisse AG grew its stake in shares of Luxoft Holding by 1.6% in the first quarter. Credit Suisse AG now owns 322,811 shares of the software maker’s stock worth $20,192,000 after purchasing an additional 5,148 shares during the last quarter. 78.68% of the stock is currently owned by institutional investors.

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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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