Luxoft (LXFT) Downgraded to Market Perform at Cowen

Luxoft (NYSE:LXFT) was downgraded by equities researchers at Cowen from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday. They presently have a $50.00 price target on the software maker’s stock. Cowen’s price objective would indicate a potential upside of 7.99% from the company’s current price.

LXFT has been the subject of a number of other research reports. Zacks Investment Research cut shares of Luxoft from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of Luxoft in a research report on Friday, November 3rd. UBS Group increased their target price on shares of Luxoft from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, November 20th. BidaskClub cut shares of Luxoft from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Pivotal Research initiated coverage on shares of Luxoft in a research report on Tuesday, December 5th. They set a “buy” rating and a $70.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.33.

Shares of Luxoft (NYSE:LXFT) traded down $7.00 during mid-day trading on Wednesday, hitting $46.30. 1,689,159 shares of the stock were exchanged, compared to its average volume of 254,253. Luxoft has a 52 week low of $40.15 and a 52 week high of $67.85. The firm has a market cap of $1,826.38, a PE ratio of 27.28 and a beta of 1.42.

Luxoft (NYSE:LXFT) last announced its quarterly earnings data on Thursday, November 16th. The software maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $228.03 million during the quarter, compared to analysts’ expectations of $227.09 million. Luxoft had a net margin of 6.72% and a return on equity of 17.81%. equities research analysts expect that Luxoft will post 2.18 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Wasatch Advisors Inc. grew its holdings in Luxoft by 4.2% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,714,881 shares of the software maker’s stock worth $81,971,000 after acquiring an additional 69,234 shares during the last quarter. NWQ Investment Management Company LLC grew its holdings in Luxoft by 90.5% during the 3rd quarter. NWQ Investment Management Company LLC now owns 603,218 shares of the software maker’s stock worth $28,834,000 after acquiring an additional 286,497 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Luxoft by 100.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 245,276 shares of the software maker’s stock worth $11,724,000 after acquiring an additional 123,126 shares during the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in Luxoft by 6.4% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 242,850 shares of the software maker’s stock worth $11,608,000 after acquiring an additional 14,625 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in Luxoft during the 4th quarter worth about $10,491,000. 52.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Luxoft

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.

Analyst Recommendations for Luxoft (NYSE:LXFT)

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