BlackRock Advisors LLC Acquires 13,199 Shares of Luxoft Holding Inc. (LXFT)
BlackRock Advisors LLC raised its stake in shares of Luxoft Holding Inc. (NYSE:LXFT) by 8.1% during the second quarter, Holdings Channel reports. The firm owned 176,445 shares of the company’s stock after buying an additional 13,199 shares during the period. BlackRock Advisors LLC owned 0.53% of Luxoft Holding worth $9,179,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Luxoft Holding during the second quarter valued at $265,000. Baillie Gifford & Co. purchased a new position in Luxoft Holding during the second quarter worth approximately $1,479,000. JPMorgan Chase & Co. raised its position in Luxoft Holding by 3.0% in the second quarter. JPMorgan Chase & Co. now owns 1,828,205 shares of the company’s stock worth $95,103,000 after buying an additional 53,140 shares during the period. Ameriprise Financial Inc. raised its position in Luxoft Holding by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 394,460 shares of the company’s stock worth $20,518,000 after buying an additional 1,830 shares during the period. Finally, WCM Investment Management CA raised its position in Luxoft Holding by 14.6% in the second quarter. WCM Investment Management CA now owns 58,860 shares of the company’s stock worth $3,062,000 after buying an additional 7,519 shares during the period. Institutional investors and hedge funds own 87.74% of the company’s stock.
Shares of Luxoft Holding Inc. (NYSE:LXFT) opened at 53.37 on Monday. The company has a market cap of $1.77 billion, a P/E ratio of 26.03 and a beta of 1.56. Luxoft Holding Inc. has a 52 week low of $46.58 and a 52 week high of $80.64. The firm has a 50-day moving average of $52.66 and a 200 day moving average of $55.70.
Luxoft Holding (NYSE:LXFT) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by $0.01. The firm earned $178 million during the quarter, compared to the consensus estimate of $176.39 million. Luxoft Holding had a return on equity of 24.69% and a net margin of 10.24%. Luxoft Holding’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. Equities analysts anticipate that Luxoft Holding Inc. will post $2.92 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Luxoft Holding from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 14th. Cantor Fitzgerald reiterated a “hold” rating on shares of Luxoft Holding in a research report on Monday, July 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Luxoft Holding in a research report on Friday, June 17th. Berenberg Bank reiterated a “hold” rating on shares of Luxoft Holding in a research report on Tuesday, August 16th. Finally, Pacific Crest assumed coverage on shares of Luxoft Holding in a research report on Tuesday, July 12th. They set a “sector weight” rating on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $68.80.
About Luxoft Holding
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.
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