Alpine Partners VI LLC Buys Shares of 13,866 Luxoft Holding Inc. (LXFT)
Alpine Partners VI LLC bought a new position in Luxoft Holding Inc. (NYSE:LXFT) during the second quarter, Holdings Channel reports. The institutional investor bought 13,866 shares of the company’s stock, valued at approximately $721,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LXFT. Quantbot Technologies LP boosted its stake in shares of Luxoft Holding by 1,599.4% in the second quarter. Quantbot Technologies LP now owns 2,906 shares of the company’s stock worth $151,000 after buying an additional 2,735 shares during the last quarter. Amica Retiree Medical Trust boosted its stake in shares of Luxoft Holding by 108.1% in the second quarter. Amica Retiree Medical Trust now owns 4,148 shares of the company’s stock worth $216,000 after buying an additional 2,155 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Luxoft Holding during the second quarter worth $265,000. Prudential Financial Inc. bought a new stake in shares of Luxoft Holding during the first quarter worth $339,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Luxoft Holding during the first quarter worth $360,000. 87.74% of the stock is currently owned by institutional investors.
Shares of Luxoft Holding Inc. (NYSE:LXFT) opened at 55.01 on Thursday. Luxoft Holding Inc. has a 1-year low of $46.58 and a 1-year high of $80.64. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 26.83 and a beta of 1.56. The stock’s 50 day moving average price is $52.43 and its 200 day moving average price is $55.72.
Luxoft Holding (NYSE:LXFT) last issued its earnings results on Thursday, August 11th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by $0.01. The business had revenue of $178 million for the quarter, compared to the consensus estimate of $176.39 million. Luxoft Holding had a net margin of 10.24% and a return on equity of 24.69%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. Analysts expect that Luxoft Holding Inc. will post $2.92 EPS for the current year.
A number of brokerages have recently weighed in on LXFT. Berenberg Bank began coverage on Luxoft Holding in a research report on Friday, June 10th. They set a “buy” rating and a $85.00 price target on the stock. Zacks Investment Research cut Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, August 17th. Wedbush began coverage on Luxoft Holding in a research report on Thursday, September 8th. They issued a “neutral” rating and a $62.00 target price on the stock. Cantor Fitzgerald restated a “hold” rating and issued a $55.00 target price on shares of Luxoft Holding in a research report on Wednesday, August 17th. Finally, Pacific Crest began coverage on Luxoft Holding in a research report on Tuesday, July 12th. They issued a “sector weight” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Luxoft Holding presently has an average rating of “Hold” and a consensus price target of $68.80.
Luxoft Holding Company Profile
Luxoft Holding, Inc is a provider of software development services and information technology (IT) solutions. The Company’s software development services consist of custom software development and support, product engineering and testing and technology consulting. The Company’s services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements.
Want to see what other hedge funds are holding LXFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Luxoft Holding Inc. (NYSE:LXFT).
Receive News & Ratings for Luxoft Holding Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luxoft Holding Inc. and related companies with MarketBeat.com's FREE daily email newsletter.