Luxoft Holding (LXFT) has risen sharply, recording gains of 1.43% in the past 4 weeks. However, the stock has corrected -3% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.4% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 4.41% and the 50-Day Moving Average is 4.58%. Luxoft Holding (NYSE:LXFT): On Fridays trading session , Opening price of the stock was $55.96 with an intraday high of $55.96. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $52.57. However, the stock managed to close at $53.76, a loss of 3.43% for the day. On the previous day, the stock had closed at $55.67. The total traded volume of the day was 1,027,553 shares.
Institutional Investors own 85.4% of Luxoft Holding shares. Also, Pacific Crest initiates coverage on Luxoft Holding (NYSE:LXFT). The rating major has initiated the coverage with sector weight rating on the shares. The rating by the firm was issued on July 12, 2016.
Luxoft Holding, Inc. is a provider of software development services and information technology (IT) solutions. The Companys software development services consist of custom software development and support, product engineering and testing and technology consulting. The Companys services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements. The Companys products include Horizon, SuperCloud, Twister and iStockTrack. The Company focuses on six industry verticals: financial services, automotive and transport, telecommunications (telecom), travel and aviation, technology and energy. The Company serves multinational corporations primarily in Western Europe and North America that rely on its IT solutions and software development capabilities for many of their mission critical systems.