UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Wipro Limited (NYSE:WIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 89.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481,432 shares of the information technology services provider's stock after purchasing an additional 227,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Wipro were worth $1,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bell Investment Advisors Inc increased its position in shares of 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 valued at $26,000 after buying an additional 3,631 shares during the period. Farther Finance Advisors LLC boosted its position in Wipro by 148.3% during the 4th 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Wipro by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider's stock worth $244,000 after acquiring an additional 6,323 shares during the period. Allworth Financial LP raised its position in shares of Wipro by 110.1% in the 4th quarter. Allworth Financial LP now owns 13,836 shares of the information technology services provider's stock worth $51,000 after acquiring an additional 7,251 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Wipro in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Analysts Set New Price Targets

WIT has been the topic of several recent research reports. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wipro has a consensus rating of "Hold".

Wipro Stock Up 0.7%

Shares of NYSE WIT traded up $0.02 during trading on Thursday, reaching $3.02. The company had a trading volume of 5,884,439 shares, compared to its average volume of 5,011,607. Wipro Limited has a 12-month low of $2.63 and a 12-month 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 business's 50-day moving average is $2.87 and its 200 day moving average is $3.54. The stock has a market cap of $31.59 billion, a PE ratio of 20.83, a P/E/G ratio of 3.08 and a beta of 1.02.

Wipro (NYSE:WIT - Get Free Report) last issued its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The business had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $225.66 billion. As a group, equities 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.