UBS Asset Management Americas Inc. Raises Holdings in Wipro Limited (NYSE:WIT)

UBS Asset Management Americas Inc. raised its holdings in shares of Wipro Limited (NYSE:WIT) by 59.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,512 shares of the information technology services provider’s stock after purchasing an additional 46,600 shares during the period. UBS Asset Management Americas Inc.’s holdings in Wipro were worth $543,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WIT. Ballentine Partners LLC purchased a new position in shares of Wipro in the 2nd quarter worth $50,000. Private Advisor Group LLC purchased a new position in shares of Wipro in the 2nd quarter worth $63,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wipro by 22.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,694 shares of the information technology services provider’s stock worth $81,000 after buying an additional 3,455 shares during the last quarter. Corient Capital Partners LLC boosted its stake in shares of Wipro by 23.5% in the 2nd quarter. Corient Capital Partners LLC now owns 22,326 shares of the information technology services provider’s stock worth $97,000 after buying an additional 4,246 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich purchased a new position in shares of Wipro in the 2nd quarter worth $110,000. Hedge funds and other institutional investors own 2.22% of the company’s stock.

A number of research firms have recently issued reports on WIT. Goldman Sachs Group upgraded Wipro from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $3.47 to $3.46 in a research note on Thursday, October 3rd. ValuEngine downgraded Wipro from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Zacks Investment Research restated a “hold” rating on shares of Wipro in a research note on Saturday, October 12th. Wedbush restated an “underperform” rating on shares of Wipro in a research note on Wednesday, July 17th. Finally, Credit Suisse Group upgraded Wipro from an “underperform” rating to a “neutral” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $4.44.

NYSE WIT traded down $0.01 on Friday, hitting $3.79. 6,103 shares of the company traded hands, compared to its average volume of 1,349,891. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.43 and a beta of 0.50. The company has a current ratio of 2.71, a quick ratio of 2.69 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $3.69 and its 200-day moving average price is $4.12. Wipro Limited has a 52-week low of $3.51 and a 52-week high of $4.63.

Wipro (NYSE:WIT) last released its earnings results on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $139.80 million for the quarter, compared to the consensus estimate of $147.23 billion. Wipro had a return on equity of 17.28% and a net margin of 16.58%. Wipro’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Wipro Limited will post 0.24 earnings per share for the current year.

Wipro 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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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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