Luxoft (LXFT) Raised to “Overweight” at Cantor Fitzgerald
Cantor Fitzgerald upgraded shares of Luxoft (NYSE:LXFT) from a neutral rating to an overweight rating in a research report report published on Wednesday morning. Cantor Fitzgerald currently has $65.00 target price on the software maker’s stock.
Several other equities research analysts also recently weighed in on LXFT. Pivotal Research began coverage on Luxoft in a report on Tuesday, December 5th. They set a buy rating and a $70.00 price objective on the stock. Cowen reissued a buy rating and set a $63.00 price objective on shares of Luxoft in a report on Thursday, October 12th. BidaskClub raised Luxoft from a sell rating to a hold rating in a report on Wednesday, October 18th. KeyCorp reissued a hold rating on shares of Luxoft in a report on Thursday, September 28th. Finally, Zacks Investment Research raised Luxoft from a sell rating to a hold rating and set a $59.00 price objective on the stock in a report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $63.00.
Shares of Luxoft (NYSE:LXFT) traded up $0.95 during mid-day trading on Wednesday, hitting $57.45. The company’s stock had a trading volume of 202,126 shares, compared to its average volume of 220,697. The firm has a market cap of $1,930.00, a P/E ratio of 34.40 and a beta of 1.48. Luxoft has a 52-week low of $40.15 and a 52-week high of $67.85.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its holdings in shares of Luxoft by 9.1% during the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after acquiring an additional 168 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Luxoft by 182.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after buying an additional 2,215 shares during the period. BT Investment Management Ltd acquired a new position in Luxoft during the 2nd quarter worth about $298,000. Dynamic Technology Lab Private Ltd acquired a new position in Luxoft during the 2nd quarter worth about $344,000. Finally, Trexquant Investment LP lifted its holdings in Luxoft by 64.4% during the 3rd quarter. Trexquant Investment LP now owns 5,663 shares of the software maker’s stock worth $271,000 after buying an additional 2,218 shares during the period. 52.34% of the stock is currently owned by institutional investors.
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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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