Wipro Limited (NYSE:WIT) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in Wipro Limited (NYSE:WIT) by 89.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,859 shares of the information technology services provider’s stock after buying an additional 165,076 shares during the period. Van ECK Associates Corp’s holdings in Wipro were worth $1,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in shares of Wipro by 109.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,550 shares of the information technology services provider’s stock worth $994,000 after purchasing an additional 145,875 shares in the last quarter. Beacon Financial Group purchased a new position in shares of Wipro during the fourth quarter worth about $38,000. Augustine Asset Management Inc. grew its holdings in shares of Wipro by 100.0% during the fourth quarter. Augustine Asset Management Inc. now owns 66,006 shares of the information technology services provider’s stock worth $234,000 after buying an additional 33,003 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Wipro during the fourth quarter worth about $68,000. Finally, Angeles Wealth Management LLC grew its holdings in shares of Wipro by 81.6% during the fourth quarter. Angeles Wealth Management LLC now owns 21,798 shares of the information technology services provider’s stock worth $77,000 after buying an additional 9,796 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WIT shares. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Wipro Trading Down 4.3 %

Shares of Wipro stock opened at $3.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a market capitalization of $36.44 billion, a P/E ratio of 24.04, a P/E/G ratio of 3.10 and a beta of 0.91. The business has a 50 day moving average price of $3.60 and a 200 day moving average price of $5.44.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Sell-side analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Profile

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.