Man Group plc grew its position in Luxoft Holding Inc (NYSE:LXFT) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,564 shares of the software maker’s stock after buying an additional 7,533 shares during the quarter. Man Group plc owned 1.04% of Luxoft worth $16,599,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Luxoft by 1.3% in the third quarter. FMR LLC now owns 2,242,332 shares of the software maker’s stock valued at $106,174,000 after acquiring an additional 28,998 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Luxoft by 82.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,955,048 shares of the software maker’s stock valued at $92,571,000 after purchasing an additional 884,095 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Luxoft by 140.6% in the third quarter. Franklin Resources Inc. now owns 1,392,572 shares of the software maker’s stock valued at $65,938,000 after purchasing an additional 813,800 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of Luxoft in the third quarter valued at approximately $39,610,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Luxoft by 12.5% in the third quarter. Alliancebernstein L.P. now owns 659,550 shares of the software maker’s stock valued at $31,230,000 after purchasing an additional 73,120 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.
NYSE:LXFT traded up $0.04 during midday trading on Friday, reaching $57.24. The company had a trading volume of 923,900 shares, compared to its average volume of 2,940,750. The firm has a market cap of $1.93 billion, a PE ratio of 27.39 and a beta of 1.46. Luxoft Holding Inc has a 12-month low of $29.73 and a 12-month high of $58.80.
Luxoft (NYSE:LXFT) last announced its quarterly earnings results on Thursday, November 15th. The software maker reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.07. The company had revenue of $228.41 million during the quarter, compared to the consensus estimate of $229.42 million. Luxoft had a return on equity of 14.00% and a net margin of 5.64%. Equities analysts anticipate that Luxoft Holding Inc will post 1.76 earnings per share for the current fiscal year.
Several research firms recently commented on LXFT. ValuEngine raised Luxoft from a “hold” rating to a “buy” rating in a report on Monday. VTB Capital cut Luxoft from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised Luxoft from a “sell” rating to a “hold” rating in a research note on Saturday, September 22nd. Credit Suisse Group raised their target price on Luxoft from $35.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, September 20th. Finally, KeyCorp lowered their price target on Luxoft from $57.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $48.89.
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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