Credit Suisse AG lifted its stake in Wipro Limited (NYSE:WIT – Get Rating) by 7.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 526,439 shares of the information technology services provider’s stock after buying an additional 35,137 shares during the quarter. Credit Suisse AG’s holdings in Wipro were worth $2,479,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. PDS Planning Inc lifted its holdings in shares of Wipro by 89.6% in the third quarter. PDS Planning Inc now owns 30,211 shares of the information technology services provider’s stock worth $142,000 after buying an additional 14,276 shares in the last quarter. Balentine LLC lifted its holdings in shares of Wipro by 263.9% in the third quarter. Balentine LLC now owns 268,376 shares of the information technology services provider’s stock worth $1,264,000 after buying an additional 194,624 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Wipro by 8.7% in the third quarter. Yousif Capital Management LLC now owns 91,638 shares of the information technology services provider’s stock worth $432,000 after buying an additional 7,370 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Wipro during the second quarter valued at $513,000. Finally, Virtu Financial LLC purchased a new stake in Wipro during the second quarter valued at $145,000. Hedge funds and other institutional investors own 2.12% of the company’s stock.
Wipro Trading Up 1.5 %
WIT stock opened at $4.81 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.08. Wipro Limited has a twelve month low of $4.38 and a twelve month high of $8.07. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.07 and a beta of 0.86. The firm’s fifty day simple moving average is $4.81 and its two-hundred day simple moving average is $4.86.
Analyst Ratings Changes
Separately, StockNews.com downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Six equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Wipro has an average rating of “Hold” and a consensus price target of $4.79.
Wipro Company Profile
Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the following segments: Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide.
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