Deutsche Bank AG Grows Stock Position in Wipro Limited (NYSE:WIT)

Deutsche Bank AG increased its holdings in shares of 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 (SEC). 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.

Several other hedge funds have also added to or reduced their stakes in WIT. Cetera Investment Advisers acquired a new stake in shares of Wipro in the fourth quarter valued at about $80,000. Captrust Financial Advisors bought a new position in shares of Wipro during the 4th quarter worth approximately $44,000. Balyasny Asset Management L.P. acquired a new stake in shares of Wipro during the 4th quarter worth approximately $264,000. Bank of America Corp DE lifted its position in shares of Wipro by 106.5% during the 4th quarter. Bank of America Corp DE now owns 1,329,479 shares of the information technology services provider's stock valued at $4,706,000 after acquiring an additional 685,544 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in 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 worth $55,925,000 after acquiring an additional 4,215,981 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Stock Performance

NYSE:WIT traded up $0.02 during trading on Friday, reaching $2.87. The company's stock had a trading volume of 4,740,264 shares, compared to its average volume of 5,043,623. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The firm has a market cap of $29.97 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The firm has a 50 day moving average of $2.91 and a 200-day moving average of $3.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.