Axa boosted its holdings in Luxoft Holding, Inc. (NYSE:LXFT) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,979 shares of the software maker’s stock after purchasing an additional 29,362 shares during the quarter. Axa owned approximately 1.33% of Luxoft Holding worth $17,949,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in LXFT. Bank of America Corp DE boosted its holdings in Luxoft Holding by 305.1% in the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after purchasing an additional 1,678 shares during the period. Pacad Investment Ltd. boosted its holdings in Luxoft Holding by 50.0% in the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,100 shares during the period. Two Sigma Securities LLC acquired a new position in Luxoft Holding in the first quarter worth $204,000. Wells Fargo & Company MN boosted its holdings in Luxoft Holding by 182.0% in the second quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after purchasing an additional 2,215 shares during the period. Finally, Trexquant Investment LP acquired a new position in Luxoft Holding in the second quarter worth $210,000. 80.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Luxoft Holding, Inc. (NYSE:LXFT) opened at 47.85 on Friday. Luxoft Holding, Inc. has a 1-year low of $40.15 and a 1-year high of $67.85. The company has a market capitalization of $1.61 billion, a PE ratio of 29.94 and a beta of 1.50. The firm has a 50-day moving average price of $54.61 and a 200-day moving average price of $59.70.
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LXFT has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “hold” rating and issued a $55.00 target price on shares of Luxoft Holding in a research note on Tuesday, May 23rd. Cowen and Company raised their target price on Luxoft Holding from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, May 24th. UBS AG reiterated a “neutral” rating and issued a $66.00 target price (up from $63.00) on shares of Luxoft Holding in a research note on Thursday, May 25th. Zacks Investment Research cut Luxoft Holding from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Finally, BidaskClub cut Luxoft Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $64.38.
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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