Zacks Investment Research cut shares of Luxoft (NYSE:LXFT) from a hold rating to a sell rating in a report released on Friday morning.

According to Zacks, “Luxoft is a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies. Its offerings encompass strategic consulting, custom software development services, and digital solution engineering. Luxoft enables companies to compete by leveraging its multi-industry expertise in the financial services, automotive, communications, and healthcare & life sciences sectors. Its managed delivery model is underpinned by a highly-educated workforce, allowing the Company to continuously innovate upwards on the technology stack to meet evolving digital challenges. Luxoft has more than 12,900 employees across 42 offices in 21 countries within five continents, with its operating headquarters office in Zug, Switzerland. “

Several other analysts have also recently commented on the stock. Credit Suisse Group set a $48.00 price objective on shares of Luxoft and gave the company a hold rating in a research note on Monday, October 15th. VTB Capital cut shares of Luxoft from a buy rating to a hold rating in a research note on Thursday, September 13th. KeyCorp lifted their price objective on shares of Luxoft from $45.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, August 16th. Cantor Fitzgerald lifted their price objective on shares of Luxoft from $46.00 to $52.00 and gave the company an overweight rating in a research note on Wednesday, September 5th. Finally, ValuEngine upgraded shares of Luxoft from a strong sell rating to a sell rating in a research note on Monday, August 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $49.50.

Shares of NYSE LXFT opened at $33.05 on Friday. Luxoft has a 12 month low of $31.50 and a 12 month high of $59.05. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 15.81 and a beta of 1.73.

Luxoft (NYSE:LXFT) last announced its quarterly earnings data on Thursday, November 15th. The software maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.47 by $0.07. Luxoft had a net margin of 5.64% and a return on equity of 14.00%. The business had revenue of $228.41 million during the quarter, compared to analysts’ expectations of $229.42 million. Equities research analysts predict that Luxoft will post 1.79 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of LXFT. Massachusetts Financial Services Co. MA acquired a new position in Luxoft during the second quarter worth $39,465,000. Nan Shan Life Insurance Co. Ltd. acquired a new position in Luxoft during the third quarter worth $39,610,000. Franklin Resources Inc. raised its position in Luxoft by 140.6% during the third quarter. Franklin Resources Inc. now owns 1,392,572 shares of the software maker’s stock worth $65,938,000 after acquiring an additional 813,800 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Luxoft during the third quarter worth $30,647,000. Finally, Barings LLC raised its position in Luxoft by 51.3% during the third quarter. Barings LLC now owns 533,018 shares of the software maker’s stock worth $25,238,000 after acquiring an additional 180,650 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

About Luxoft

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company 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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