Wipro Limited (NYSE:WIT) Position Boosted by DGS Capital Management LLC

DGS Capital Management LLC raised its holdings in shares of Wipro Limited (NYSE:WIT) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,491 shares of the information technology services provider’s stock after acquiring an additional 18,160 shares during the quarter. DGS Capital Management LLC’s holdings in Wipro were worth $783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Deutsche Bank AG grew its stake in Wipro by 25.8% during the 3rd quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock valued at $9,238,000 after acquiring an additional 390,947 shares in the last quarter. Vanguard Group Inc. grew its stake in Wipro by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock valued at $60,368,000 after acquiring an additional 553,433 shares in the last quarter. Rhumbline Advisers grew its stake in Wipro by 4.7% during the 3rd quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock valued at $9,343,000 after acquiring an additional 86,226 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Wipro by 63.1% during the fourth quarter. Blue Trust Inc. now owns 22,312 shares of the information technology services provider’s stock worth $124,000 after buying an additional 8,634 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Wipro by 2,845,900.0% during the third quarter. Barclays PLC now owns 369,980 shares of the information technology services provider’s stock worth $1,790,000 after buying an additional 369,967 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WIT. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. BNP Paribas began coverage on Wipro in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 target price for the company. StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Wedbush upped their target price on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research note on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $5.05.

Wipro Price Performance

Shares of WIT stock traded down $0.03 during trading hours on Tuesday, hitting $5.29. 739,660 shares of the company’s stock were exchanged, compared to its average volume of 2,779,341. The stock’s 50-day moving average is $5.96 and its 200-day moving average is $5.39. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Wipro Limited has a 52 week low of $4.32 and a 52 week high of $6.45.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, January 12th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.76 billion. Wipro had a net margin of 12.42% and a return on equity of 15.68%. As a group, research analysts forecast that Wipro Limited will post 0.25 EPS for the current year.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.