GAM Holding AG Has $1.84 Million Position in Wipro Limited (NYSE:WIT)

GAM Holding AG lowered its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 21.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the information technology services provider's stock after selling 160,000 shares during the quarter. GAM Holding AG's holdings in Wipro were worth $1,836,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc lifted its stake in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 3,631 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in 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 worth $29,000 after purchasing an additional 4,851 shares during the last quarter. Geode Capital Management LLC lifted its stake in Wipro by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider's stock worth $244,000 after purchasing an additional 6,323 shares during the last quarter. Optas LLC lifted its stake in Wipro by 19.7% during the first quarter. Optas LLC now owns 41,314 shares of the information technology services provider's stock worth $126,000 after purchasing an additional 6,801 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Wipro by 110.1% during the fourth quarter. Allworth Financial LP now owns 13,836 shares of the information technology services provider's stock worth $51,000 after purchasing an additional 7,251 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WIT. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wipro currently has a consensus rating of "Hold".

Wipro Stock Down 0.2%

Shares of WIT opened at $2.98 on Friday. Wipro Limited has a 52 week low of $2.63 and a 52 week high of $3.79. The stock has a market capitalization of $31.12 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 8.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72. The stock has a fifty day moving average of $2.89 and a 200-day moving average of $3.32.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.97% and a net margin of 14.73%. The company had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $225.66 billion. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro 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.

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