Deutsche Bank AG Raises Stake in Wipro Limited (NYSE:WIT)

Deutsche Bank AG boosted its stake in Wipro Limited (NYSE:WIT - Free Report) by 105.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 805,594 shares of the information technology services provider's stock after buying an additional 412,971 shares during the period. Deutsche Bank AG's holdings in Wipro were worth $2,852,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WIT. Vanguard Group Inc. increased its position in shares of 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 valued at $82,692,000 after acquiring an additional 11,196,013 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Wipro by 36.4% during the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock worth $55,925,000 after purchasing an additional 4,215,981 shares during the period. Schroder Investment Management Group increased its holdings in Wipro by 177.6% in 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 purchasing an additional 6,195,561 shares during the last quarter. JPMorgan Chase & Co. raised its position in Wipro by 41.5% in the fourth quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider's stock valued at $30,956,000 after purchasing an additional 2,566,388 shares during the period. Finally, Fisher Asset Management LLC raised its position in Wipro by 97.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock valued at $26,636,000 after purchasing an additional 3,722,115 shares during the period. Institutional investors and hedge funds own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WIT shares. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold".

Wipro Stock Up 1.4%

Shares of NYSE:WIT traded up $0.04 during trading on Tuesday, hitting $2.90. The company's stock had a trading volume of 2,549,572 shares, compared to its average volume of 5,033,646. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The business has a 50 day moving average price of $2.90 and a two-hundred day moving average price of $3.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $30.33 billion, a PE ratio of 20.00, a P/E/G ratio of 3.08 and a beta of 1.03.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. As a group, research analysts expect that Wipro Limited will post 0.14 EPS 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.