UBS Asset Management Americas Inc. Has $1,304,000 Position in Wipro Ltd. (WIT)
UBS Asset Management Americas Inc. boosted its stake in shares of Wipro Ltd. (NYSE:WIT) by 62.5% during the second quarter, Holdings Channel reports. The firm owned 105,533 shares of the company’s stock after buying an additional 40,600 shares during the period. UBS Asset Management Americas Inc.’s holdings in Wipro were worth $1,304,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Wipro by 223.8% in the second quarter. JPMorgan Chase & Co. now owns 2,024,255 shares of the company’s stock worth $25,020,000 after buying an additional 1,399,184 shares in the last quarter. Bank of Montreal Can bought a new position in Wipro during the second quarter worth $7,563,000. Fisher Asset Management LLC increased its position in Wipro by 48.4% in the second quarter. Fisher Asset Management LLC now owns 1,854,321 shares of the company’s stock worth $23,012,000 after buying an additional 604,706 shares in the last quarter. Renaissance Technologies LLC increased its position in Wipro by 52.9% in the first quarter. Renaissance Technologies LLC now owns 871,900 shares of the company’s stock worth $10,969,000 after buying an additional 301,800 shares in the last quarter. Finally, State Street Corp increased its position in Wipro by 6.8% in the first quarter. State Street Corp now owns 2,252,451 shares of the company’s stock worth $28,332,000 after buying an additional 144,090 shares in the last quarter. Hedge funds and other institutional investors own 2.37% of the company’s stock.
Wipro Ltd. (NYSE:WIT) traded down 1.51% on Friday, reaching $9.76. 732,830 shares of the company traded hands. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 18.31 and a beta of 1.06. The stock’s 50-day moving average is $9.90 and its 200-day moving average is $11.43. Wipro Ltd. has a 1-year low of $9.63 and a 1-year high of $13.08.
Wipro (NYSE:WIT) last issued its earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. The firm earned $2 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Wipro had a return on equity of 18.90% and a net margin of 16.64%. Equities research analysts expect that Wipro Ltd. will post $0.55 EPS for the current year.
A number of research analysts have recently weighed in on WIT shares. Zacks Investment Research downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. HSBC downgraded shares of Wipro from a “hold” rating to a “reduce” rating in a research report on Tuesday, August 9th. Wedbush started coverage on shares of Wipro in a research report on Thursday, September 8th. They set an “underperform” rating and a $8.50 target price for the company. Finally, TheStreet downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Wipro currently has a consensus rating of “Hold” and an average price target of $11.17.
Wipro Company Profile
Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.
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