Allianz Asset Management GmbH grew its holdings in Wipro (NYSE:WIT) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,098 shares of the information technology services provider’s stock after acquiring an additional 37,200 shares during the period. Allianz Asset Management GmbH’s holdings in Wipro were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in shares of Wipro in the fourth quarter valued at about $194,000. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in shares of Wipro in the third quarter valued at about $220,000. Dimensional Fund Advisors LP purchased a new position in shares of Wipro in the third quarter valued at about $245,000. Citadel Advisors LLC purchased a new position in shares of Wipro in the fourth quarter valued at about $238,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of Wipro in the third quarter valued at about $258,000. Institutional investors and hedge funds own 2.52% of the company’s stock.
Wipro (WIT) opened at $5.07 on Friday. Wipro has a 52-week low of $4.75 and a 52-week high of $6.40. The company has a market capitalization of $23,440.63, a PE ratio of 18.78, a PEG ratio of 2.44 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.16 and a quick ratio of 2.14.
Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 19th. The information technology services provider reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Wipro had a return on equity of 16.09% and a net margin of 15.46%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. sell-side analysts predict that Wipro will post 0.27 EPS for the current fiscal year.
Several equities analysts have recently commented on WIT shares. Zacks Investment Research downgraded Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Credit Suisse Group downgraded Wipro from a “neutral” rating to a “sell” rating in a research report on Monday, January 22nd. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus target price of $141.50.
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Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. The company's IT 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, infrastructure services, analytics services, business process services, research and development, and hardware and software design services to enterprises.
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