Fmr LLC cut its stake in shares of Luxoft Holding Inc (NYSE:LXFT) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,240,032 shares of the software maker’s stock after selling 2,300 shares during the period. Fmr LLC owned about 0.07% of Luxoft worth $68,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hsbc Holdings PLC lifted its holdings in shares of Luxoft by 8.2% during the fourth quarter. Hsbc Holdings PLC now owns 9,034 shares of the software maker’s stock valued at $275,000 after acquiring an additional 681 shares during the period. Northern Trust Corp lifted its holdings in shares of Luxoft by 2.3% during the fourth quarter. Northern Trust Corp now owns 41,373 shares of the software maker’s stock valued at $1,259,000 after acquiring an additional 933 shares during the period. Moon Capital Management LLC lifted its holdings in shares of Luxoft by 1.3% during the fourth quarter. Moon Capital Management LLC now owns 78,000 shares of the software maker’s stock valued at $2,373,000 after acquiring an additional 980 shares during the period. Jacobson & Schmitt Advisors LLC lifted its holdings in shares of Luxoft by 1.7% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 79,356 shares of the software maker’s stock valued at $2,414,000 after acquiring an additional 1,310 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in shares of Luxoft by 1.4% during the fourth quarter. Confluence Investment Management LLC now owns 108,185 shares of the software maker’s stock valued at $3,291,000 after acquiring an additional 1,445 shares during the period. 58.67% of the stock is owned by institutional investors.

Luxoft stock opened at $58.90 on Monday. Luxoft Holding Inc has a 12-month low of $29.73 and a 12-month high of $58.99. The stock has a market capitalization of $1.99 billion, a P/E ratio of 28.18 and a beta of 2.43.

Luxoft (NYSE:LXFT) last released its quarterly earnings results on Wednesday, February 13th. The software maker reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.15. Luxoft had a return on equity of 12.33% and a net margin of 4.60%. The business had revenue of $230.36 million during the quarter, compared to analysts’ expectations of $233.85 million. During the same period in the previous year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts predict that Luxoft Holding Inc will post 1.78 EPS for the current fiscal year.

A number of brokerages have issued reports on LXFT. Zacks Investment Research cut Luxoft from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Berenberg Bank cut Luxoft from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. JPMorgan Chase & Co. raised Luxoft from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $43.00 to $59.00 in a report on Friday, January 18th. Finally, ValuEngine raised Luxoft from a “hold” rating to a “buy” rating in a report on Monday, January 7th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $50.75.

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Luxoft Profile

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.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Luxoft (NYSE:LXFT)

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