Mackenzie Financial Corp Invests $370,000 in Wipro Limited (WIT) Stock
Mackenzie Financial Corp acquired a new stake in Wipro Limited (NYSE:WIT) in the fourth quarter, HoldingsChannel reports. The firm acquired 67,700 shares of the information technology services provider’s stock, valued at approximately $370,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WIT. Nationwide Fund Advisors increased its holdings in Wipro by 100.0% in the second quarter. Nationwide Fund Advisors now owns 26,596 shares of the information technology services provider’s stock valued at $138,000 after purchasing an additional 13,298 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Wipro in the third quarter valued at $622,000. Renaissance Group LLC increased its holdings in Wipro by 5.0% in the third quarter. Renaissance Group LLC now owns 2,759,662 shares of the information technology services provider’s stock valued at $15,675,000 after purchasing an additional 130,457 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Wipro by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,542,821 shares of the information technology services provider’s stock valued at $14,443,000 after purchasing an additional 257,911 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Wipro by 4.9% in the third quarter. Wells Fargo & Company MN now owns 1,875,228 shares of the information technology services provider’s stock valued at $10,652,000 after purchasing an additional 87,126 shares during the period. Institutional investors and hedge funds own 2.52% of the company’s stock.
Shares of Wipro Limited (NYSE:WIT) opened at $5.78 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.14 and a debt-to-equity ratio of 0.06. Wipro Limited has a 1-year low of $4.75 and a 1-year high of $6.40. The firm has a market capitalization of $20,270.00, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Wipro from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Credit Suisse Group downgraded Wipro from a “neutral” rating to a “sell” rating in a report on Monday, January 22nd. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Sell” and a consensus price target of $141.50.
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Wipro Limited (Wipro) is a global information technology (IT) services provider. It 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 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.
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