Luxoft (NYSE:LXFT) was downgraded by stock analysts at VTB Capital from a “buy” rating to a “hold” rating in a research report issued on Thursday, The Fly reports.

Several other research firms have also recently issued reports on LXFT. KeyCorp decreased their price objective on shares of Luxoft from $56.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, May 22nd. William Blair cut shares of Luxoft from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 24th. Zacks Investment Research raised shares of Luxoft from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, May 25th. Berenberg Bank set a $55.00 price objective on shares of Luxoft and gave the stock a “buy” rating in a research report on Friday, May 25th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $35.00 price objective (down from $48.00) on shares of Luxoft in a research report on Friday, May 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.67.

Luxoft stock opened at $46.90 on Thursday. Luxoft has a fifty-two week low of $31.50 and a fifty-two week high of $59.05. The company has a market capitalization of $1.58 billion, a P/E ratio of 22.44 and a beta of 1.76.

Luxoft (NYSE:LXFT) last posted its earnings results on Wednesday, August 15th. The software maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.28. Luxoft had a net margin of 6.09% and a return on equity of 15.44%. The firm had revenue of $212.79 million during the quarter, compared to the consensus estimate of $212.44 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. equities analysts expect that Luxoft will post 1.59 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in Luxoft in the second quarter valued at $384,000. California Public Employees Retirement System lifted its position in Luxoft by 11.8% in the second quarter. California Public Employees Retirement System now owns 27,057 shares of the software maker’s stock valued at $997,000 after acquiring an additional 2,862 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Luxoft in the second quarter valued at $759,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Luxoft in the second quarter valued at about $1,141,000. Finally, Bank of America Corp DE raised its holdings in shares of Luxoft by 17.9% in the second quarter. Bank of America Corp DE now owns 25,090 shares of the software maker’s stock valued at $925,000 after buying an additional 3,816 shares during the last quarter. 54.93% of the stock is owned by hedge funds and other institutional investors.

Luxoft Company Profile

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations primarily in Europe and the United States. It offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.

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Analyst Recommendations for Luxoft (NYSE:LXFT)

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