IndexIQ Advisors LLC acquired a new position in Luxoft Holding Inc (NYSE:LXFT) during the 1st quarter, Holdings Channel reports. The fund acquired 173,421 shares of the software maker’s stock, valued at approximately $10,182,000.
Other hedge funds also recently made changes to their positions in the company. Moon Capital Management LLC raised its position in Luxoft by 1.3% in the 4th quarter. Moon Capital Management LLC now owns 78,000 shares of the software maker’s stock worth $2,373,000 after purchasing an additional 980 shares during the last quarter. NJ State Employees Deferred Compensation Plan raised its position in Luxoft by 50.0% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the software maker’s stock worth $365,000 after purchasing an additional 4,000 shares during the last quarter. Horrell Capital Management Inc. bought a new position in Luxoft in the 4th quarter worth approximately $3,498,000. Vaughan Nelson Investment Management L.P. raised its position in Luxoft by 39.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 900,869 shares of the software maker’s stock worth $27,404,000 after purchasing an additional 253,619 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Luxoft in the 4th quarter worth approximately $1,568,000. 56.25% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on LXFT shares. Zacks Investment Research upgraded shares of Luxoft from a “sell” rating to a “hold” rating and set a $64.00 price objective for the company in a research report on Wednesday, January 16th. JPMorgan Chase & Co. upgraded shares of Luxoft from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $43.00 to $59.00 in a research report on Friday, January 18th. Finally, Berenberg Bank cut shares of Luxoft from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.75.
Luxoft (NYSE:LXFT) last issued its earnings results on Wednesday, February 13th. The software maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.46 by $0.15. The company had revenue of $230.36 million during the quarter, compared to analysts’ expectations of $233.85 million. Luxoft had a net margin of 4.60% and a return on equity of 12.33%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities research analysts forecast that Luxoft Holding Inc will post 1.83 earnings per share for the current fiscal year.
Luxoft Company 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.
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