UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 227,875 Shares of Wipro Limited (NYSE:WIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Wipro Limited (NYSE:WIT) by 89.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 481,432 shares of the information technology services provider’s stock after acquiring an additional 227,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Wipro were worth $1,704,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Yousif Capital Management LLC increased its holdings in shares of Wipro by 100.0% in the 4th quarter. Yousif Capital Management LLC now owns 159,478 shares of the information technology services provider’s stock worth $565,000 after buying an additional 79,739 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock worth $307,000 after purchasing an additional 41,766 shares during the period. Choreo LLC raised its position in Wipro by 94.6% during the fourth quarter. Choreo LLC now owns 25,212 shares of the information technology services provider’s stock worth $89,000 after acquiring an additional 12,259 shares during the period. Bleakley Financial Group LLC raised its position in shares of Wipro by 102.0% in the fourth quarter. Bleakley Financial Group LLC now owns 32,974 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 16,651 shares during the last quarter. Finally, Leo Wealth LLC purchased a new position in Wipro during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Up 0.7%

Wipro stock opened at $2.88 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $30.13 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.08 and a beta of 1.02. Wipro Limited has a 12-month low of $2.63 and a 12-month high of $3.79. The firm has a 50 day simple moving average of $2.86 and a 200-day simple moving average of $3.58.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. As a group, equities research analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

WIT has been the topic of a number of recent research reports. Wall Street Zen raised Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Jefferies Financial Group cut shares of Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

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.