California Public Employees Retirement System Raises Stake in Luxoft Holding Inc (LXFT)
California Public Employees Retirement System increased its stake in Luxoft Holding Inc (NYSE:LXFT) by 20.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,500 shares of the software maker’s stock after buying an additional 4,200 shares during the period. California Public Employees Retirement System owned approximately 0.07% of Luxoft Holding worth $1,532,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of LXFT. State Street Corp raised its position in shares of Luxoft Holding by 350.7% in the fourth quarter. State Street Corp now owns 78,901 shares of the software maker’s stock valued at $4,434,000 after buying an additional 61,393 shares during the period. Norges Bank bought a new position in shares of Luxoft Holding during the fourth quarter valued at approximately $10,023,000. Clinton Group Inc. raised its position in shares of Luxoft Holding by 20.2% in the first quarter. Clinton Group Inc. now owns 9,045 shares of the software maker’s stock valued at $566,000 after buying an additional 1,522 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Luxoft Holding by 7.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 46,166 shares of the software maker’s stock valued at $2,595,000 after buying an additional 3,200 shares during the period. Finally, Oxford Asset Management bought a new position in shares of Luxoft Holding during the first quarter valued at approximately $1,654,000. Institutional investors and hedge funds own 95.48% of the company’s stock.
Shares of Luxoft Holding Inc (NYSE LXFT) traded up 0.16% on Friday, hitting $61.40. 89,671 shares of the company traded hands. Luxoft Holding Inc has a 1-year low of $48.20 and a 1-year high of $67.85. The firm has a market capitalization of $2.05 billion, a P/E ratio of 33.37 and a beta of 1.46. The firm’s 50-day moving average is $62.00 and its 200 day moving average is $61.14.
Luxoft Holding (NYSE:LXFT) last released its quarterly earnings data on Monday, May 22nd. The software maker reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. Luxoft Holding had a return on equity of 14.57% and a net margin of 6.73%. The business had revenue of $204.10 million during the quarter, compared to analysts’ expectations of $202.30 million. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, analysts anticipate that Luxoft Holding Inc will post $3.39 earnings per share for the current fiscal year.
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LXFT has been the subject of several research reports. Zacks Investment Research lowered shares of Luxoft Holding from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Cowen and Company set a $68.00 price target on shares of Luxoft Holding and gave the stock a “buy” rating in a research note on Friday, June 16th. Cantor Fitzgerald reiterated a “hold” rating and issued a $55.00 price target on shares of Luxoft Holding in a research note on Tuesday, May 23rd. BidaskClub lowered shares of Luxoft Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, UBS AG reiterated a “neutral” rating and issued a $66.00 price target (up from $63.00) on shares of Luxoft Holding in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Luxoft Holding presently has a consensus rating of “Hold” and an average price target of $65.83.
Luxoft Holding Company Profile
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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