Comerica Bank grew its holdings in shares of Wipro Limited (NYSE:WIT – Get Rating) by 10.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,963 shares of the information technology services provider's stock after buying an additional 8,596 shares during the period. Comerica Bank's holdings in Wipro were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. bought a new stake in shares of Wipro during the first quarter valued at approximately $26,000. Ronald Blue Trust Inc. raised its holdings in shares of Wipro by 2,263.1% during the third quarter. Ronald Blue Trust Inc. now owns 7,562 shares of the information technology services provider's stock valued at $41,000 after buying an additional 7,242 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Wipro by 24.3% during the second quarter. Lindbrook Capital LLC now owns 9,943 shares of the information technology services provider's stock valued at $53,000 after buying an additional 1,943 shares during the last quarter. Deuterium Capital Management LLC bought a new stake in shares of Wipro during the second quarter valued at approximately $53,000. Finally, Trexquant Investment LP bought a new stake in shares of Wipro during the second quarter valued at approximately $55,000. Institutional investors own 2.12% of the company's stock.
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Wipro stock opened at $4.90 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.24. The firm has a market cap of $26.82 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.83. Wipro Limited has a 1 year low of $4.38 and a 1 year high of $8.07. The firm's 50 day moving average price is $4.81 and its two-hundred day moving average price is $4.93.
Wipro (NYSE:WIT – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.85 billion. Wipro had a net margin of 12.94% and a return on equity of 16.19%. On average, research analysts predict that Wipro Limited will post 0.25 EPS for the current fiscal year.Analysts Set New Price Targets
WIT has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research note on Thursday, January 19th. Credit Suisse Group lowered shares of Wipro from a "neutral" rating to an "underperform" rating in a research note on Thursday, October 13th. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.79.
Wipro Profile
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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.
Further Reading
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