Wipro Limited (NYSE:WIT) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 89.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 481,432 shares of the information technology services provider's stock after buying an additional 227,875 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Wipro were worth $1,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC raised its stake in shares of Wipro by 292.0% during the 4th quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock worth $221,000 after purchasing an additional 46,432 shares in the last quarter. Barclays PLC bought a new position in Wipro in the 4th quarter valued at $461,000. Northern Trust Corp raised its position in shares of Wipro by 172.8% during the fourth quarter. Northern Trust Corp now owns 2,679,066 shares of the information technology services provider's stock worth $9,484,000 after acquiring an additional 1,697,118 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Wipro by 100.0% during the fourth quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider's stock worth $375,000 after purchasing an additional 53,044 shares during the period. Finally, Van ECK Associates Corp grew its stake in Wipro by 89.8% in the fourth quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock valued at $1,235,000 after acquiring an additional 165,076 shares during the period. 2.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Wipro Price Performance

Wipro stock traded up $0.04 during mid-day trading on Wednesday, hitting $3.01. The stock had a trading volume of 5,475,161 shares, compared to its average volume of 5,008,116. The firm has a market capitalization of $31.43 billion, a P/E ratio of 20.73, a P/E/G ratio of 3.08 and a beta of 1.02. Wipro Limited has a one year low of $2.63 and a one year high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $2.86 and its 200 day moving average is $3.55.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data 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 net margin of 13.96% and a return on equity of 15.46%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. On average, sell-side analysts forecast 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.