132,675 Shares in Wipro Limited (NYSE:WIT) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new position in shares of Wipro Limited (NYSE:WIT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 132,675 shares of the information technology services provider’s stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WIT. Jane Street Group LLC lifted its holdings in shares of Wipro by 292.0% during the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after acquiring an additional 1,001,644 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Wipro by 165.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 277,964 shares of the information technology services provider’s stock valued at $1,598,000 after acquiring an additional 173,072 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Wipro during the second quarter worth about $531,000. BNP Paribas Financial Markets increased its position in Wipro by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock valued at $35,422,000 after acquiring an additional 2,437,802 shares during the period. Finally, CWM LLC increased its holdings in Wipro by 11.8% in the second quarter. CWM LLC now owns 20,621 shares of the information technology services provider’s stock valued at $126,000 after purchasing an additional 2,178 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WIT. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday. Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.60.

Wipro Price Performance

Shares of NYSE WIT opened at $6.48 on Friday. Wipro Limited has a twelve month low of $4.49 and a twelve month high of $7.01. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $33.85 billion, a P/E ratio of 24.00, a P/E/G ratio of 4.43 and a beta of 0.90. The stock’s 50-day simple moving average is $6.44 and its two-hundred day simple moving average is $6.00.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. 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.