Deutsche Bank AG raised its position in shares of Wipro Limited (NYSE:WIT) by 29.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,235,519 shares of the information technology services provider’s stock after acquiring an additional 506,893 shares during the quarter. Deutsche Bank AG’s holdings in Wipro were worth $11,465,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Fisher Asset Management LLC boosted its position in shares of Wipro by 16.1% in the 4th quarter. Fisher Asset Management LLC now owns 4,608,317 shares of the information technology services provider’s stock worth $23,641,000 after purchasing an additional 637,536 shares in the last quarter. ClariVest Asset Management LLC boosted its position in shares of Wipro by 11.5% in the 4th quarter. ClariVest Asset Management LLC now owns 1,570,200 shares of the information technology services provider’s stock worth $8,055,000 after purchasing an additional 161,400 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Wipro in the 4th quarter worth approximately $7,307,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Wipro in the 4th quarter worth approximately $6,080,000. Finally, Freestone Capital Holdings LLC boosted its position in shares of Wipro by 5.8% in the 4th quarter. Freestone Capital Holdings LLC now owns 1,110,589 shares of the information technology services provider’s stock worth $5,697,000 after purchasing an additional 60,968 shares in the last quarter. 1.72% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on WIT shares. Zacks Investment Research raised Wipro from a “sell” rating to a “hold” rating in a research report on Wednesday, December 19th. Deutsche Bank started coverage on Wipro in a research report on Thursday, January 10th. They issued a “hold” rating on the stock. Credit Suisse Group cut Wipro from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 22nd. TheStreet raised Wipro from a “c” rating to a “b-” rating in a research report on Friday, January 18th. Finally, Wedbush dropped their price target on Wipro from $4.25 to $3.75 and set an “underperform” rating on the stock in a research report on Thursday, March 21st. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.18.
Shares of NYSE WIT opened at $4.24 on Wednesday. Wipro Limited has a twelve month low of $3.38 and a twelve month high of $4.42. The company has a market capitalization of $25.99 billion, a P/E ratio of 21.20, a PEG ratio of 1.71 and a beta of 0.48. The company has a quick ratio of 2.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.09.
Wipro (NYSE:WIT) last announced its quarterly earnings data on Tuesday, April 16th. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Wipro had a return on equity of 16.16% and a net margin of 14.51%. The firm had revenue of $150.06 billion during the quarter, compared to analysts’ expectations of $150.97 billion. During the same quarter in the previous year, the firm earned $9.08 earnings per share. Wipro’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts expect that Wipro Limited will post 0.21 earnings per share for the current fiscal year.
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Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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