Goldman Sachs Group Inc. raised its stake in shares of Luxoft Holding, Inc. (NYSE:LXFT) by 255.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,382 shares of the software maker’s stock after buying an additional 63,545 shares during the period. Goldman Sachs Group Inc. owned 0.27% of Luxoft Holding worth $5,528,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Bank of America Corp DE boosted its position in Luxoft Holding by 305.1% in the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock valued at $139,000 after buying an additional 1,678 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Luxoft Holding during the first quarter valued at $204,000. Eqis Capital Management Inc. purchased a new position in Luxoft Holding during the first quarter valued at $234,000. Janney Capital Management LLC purchased a new position in Luxoft Holding during the first quarter valued at $291,000. Finally, Legal & General Group Plc boosted its position in Luxoft Holding by 13.2% in the first quarter. Legal & General Group Plc now owns 6,000 shares of the software maker’s stock valued at $375,000 after buying an additional 700 shares in the last quarter. 94.78% of the stock is currently owned by institutional investors.
Shares of Luxoft Holding, Inc. (NYSE LXFT) traded up 0.10% on Friday, reaching $48.05. The company had a trading volume of 248,974 shares. The firm’s 50 day moving average is $59.50 and its 200 day moving average is $60.71. The firm has a market capitalization of $1.61 billion, a PE ratio of 30.07 and a beta of 1.46. Luxoft Holding, Inc. has a 12 month low of $40.15 and a 12 month high of $67.85.
Luxoft Holding (NYSE:LXFT) last posted its earnings results on Monday, May 22nd. The software maker reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. Luxoft Holding had a return on equity of 18.90% and a net margin of 6.72%. The firm had revenue of $204.10 million for the quarter, compared to analyst estimates of $202.30 million. During the same quarter last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities research analysts expect that Luxoft Holding, Inc. will post $2.88 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Luxoft Holding from a “hold” rating to a “sell” rating in a report on Friday, May 26th. Cantor Fitzgerald restated a “hold” rating and set a $55.00 price target on shares of Luxoft Holding in a report on Tuesday, May 23rd. UBS AG reiterated a “neutral” rating and issued a $66.00 target price (up previously from $63.00) on shares of Luxoft Holding in a report on Thursday, May 25th. Cowen and Company lifted their target price on Luxoft Holding from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 24th. Finally, BidaskClub cut Luxoft Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Luxoft Holding currently has an average rating of “Hold” and a consensus target price of $64.38.
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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