Wipro Limited (NYSE:WIT) Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has increased its stake in Wipro Limited by 4.7%, now holding 2,073,222 shares valued at approximately $6.34 million.
• Wipro's stock performance has shown volatility with a recent trading price of $2.78, a 12-month low of $2.63, and a high of $3.79.
• The company reported earnings of $0.04 EPS for its latest quarter, meeting analysts' expectations, with revenues of $2.58 billion.

Allianz Asset Management GmbH increased its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,073,222 shares of the information technology services provider's stock after purchasing an additional 93,748 shares during the period. Allianz Asset Management GmbH's holdings in Wipro were worth $6,344,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Wipro by 92.0% during the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock worth $82,692,000 after purchasing an additional 11,196,013 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock valued at $34,280,000 after buying an additional 6,195,561 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Wipro during the 4th quarter valued at approximately $20,008,000. BNP Paribas Financial Markets increased its holdings in shares of Wipro by 36.4% during the fourth quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock valued at $55,925,000 after purchasing an additional 4,215,981 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Wipro during the fourth quarter valued at about $12,795,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

NYSE WIT traded down $0.01 on Thursday, hitting $2.75. 736,363 shares of the stock traded hands, compared to its average volume of 5,935,406. The business's fifty day moving average is $2.96 and its two-hundred day moving average is $3.11. Wipro Limited has a 12 month low of $2.63 and a 12 month high of $3.79. The firm has a market capitalization of $28.71 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 10.20 and a beta of 1.02.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 15.07% and a return on equity of 15.94%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. Analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Finally, Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a report on Friday, June 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

About Wipro

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.