BI Asset Management Fondsmaeglerselskab A S Has $770,000 Holdings in Wipro Limited (NYSE:WIT)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 95.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,390 shares of the information technology services provider's stock after acquiring an additional 105,941 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Wipro were worth $770,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ridgewood Investments LLC lifted its holdings in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 3,557 shares during the period. Bell Investment Advisors Inc lifted its stake in shares of Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 3,631 shares during the period. Sierra Ocean LLC bought a new position in shares of Wipro in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC increased its stake in shares of Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC bought a new stake in Wipro during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Wipro presently has an average rating of "Hold".

Wipro Stock Up 0.5 %

Shares of WIT traded up $0.02 during mid-day trading on Tuesday, reaching $2.86. The company's stock had a trading volume of 2,088,799 shares, compared to its average volume of 5,047,260. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a market cap of $29.86 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The business has a fifty day moving average of $3.04 and a 200 day moving average of $4.35.

Wipro (NYSE:WIT - Get Free Report) last released its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.