UBS Group AG Increases Stock Holdings in Wipro Limited $WIT

Key Points

• UBS Group AG raised its stake in Wipro by 4.7% in Q4, adding 609,565 shares to hold 13,654,405 shares (about a 0.13% stake) valued at $38.78 million.
• Analysts and institutions are cautious on Wipro — the stock has a consensus rating of "Reduce" after downgrades (e.g., Morgan Stanley to underweight), and WIT trades near its 52‑week low (opened $1.99; 52‑week range $1.97–$3.13) with a market cap of $20.8 billion and a P/E of 14.18.

UBS Group AG raised its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,654,405 shares of the information technology services provider's stock after acquiring an additional 609,565 shares during the period. UBS Group AG owned approximately 0.13% of Wipro worth $38,779,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in Wipro by 8.6% during the third quarter. First Trust Advisors LP now owns 16,654,556 shares of the information technology services provider's stock valued at $43,801,000 after acquiring an additional 1,317,586 shares during the period. Caprock Group LLC purchased a new stake in Wipro during the third quarter valued at about $694,000. JPMorgan Chase & Co. grew its position in Wipro by 24.2% during the third quarter. JPMorgan Chase & Co. now owns 7,096,868 shares of the information technology services provider's stock valued at $18,665,000 after acquiring an additional 1,384,264 shares during the period. Thrivent Financial for Lutherans purchased a new stake in Wipro during the third quarter valued at about $1,890,000. Finally, Penserra Capital Management LLC grew its position in Wipro by 43.4% during the third quarter. Penserra Capital Management LLC now owns 9,242,466 shares of the information technology services provider's stock valued at $24,307,000 after acquiring an additional 2,796,059 shares during the period. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Stock Performance

NYSE:WIT opened at $1.99 on Friday. Wipro Limited has a one year low of $1.97 and a one year high of $3.13. The business's 50-day simple moving average is $2.17 and its 200 day simple moving average is $2.50. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 4.38 and a beta of 0.92.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 14.97% and a net margin of 14.25%.The business had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.65 billion. On average, equities research analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on WIT. Morgan Stanley downgraded Wipro to an "underweight" rating in a research report on Monday, January 19th. Weiss Ratings downgraded Wipro from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Wipro Profile

Wipro Limited NYSE: WIT is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.

The company's service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.

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