Wipro Limited (NYSE:WIT) Stock Holdings Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Wipro Limited (NYSE:WIT) by 2.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 104,271 shares of the information technology services provider’s stock after selling 2,353 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Wipro were worth $581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIT. CWM LLC increased its holdings in Wipro by 24.2% in the third quarter. CWM LLC now owns 15,335 shares of the information technology services provider’s stock valued at $74,000 after buying an additional 2,987 shares during the last quarter. Ballentine Partners LLC increased its holdings in Wipro by 26.1% in the third quarter. Ballentine Partners LLC now owns 127,028 shares of the information technology services provider’s stock valued at $615,000 after buying an additional 26,328 shares during the last quarter. Clarius Group LLC bought a new stake in Wipro in the third quarter valued at about $69,000. Lester Murray Antman dba SimplyRich grew its holdings in shares of Wipro by 76.8% during the third quarter. Lester Murray Antman dba SimplyRich now owns 151,687 shares of the information technology services provider’s stock valued at $734,000 after purchasing an additional 65,868 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Wipro by 6.5% during the third quarter. PDS Planning Inc now owns 79,171 shares of the information technology services provider’s stock valued at $383,000 after purchasing an additional 4,809 shares during the last quarter. 2.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WIT has been the subject of several recent research reports. BNP Paribas initiated coverage on Wipro in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.20 target price for the company. TheStreet raised Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Wedbush upped their target price on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th. Finally, StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $5.05.

Wipro Stock Performance

Shares of WIT stock opened at $5.44 on Friday. Wipro Limited has a 12-month low of $4.48 and a 12-month high of $6.45. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. The business has a 50 day simple moving average of $5.86 and a 200 day simple moving average of $5.41. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.