Wipro Limited $WIT Shares Acquired by UBS Group AG

UBS Group AG increased its holdings in Wipro Limited (NYSE:WIT) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,654,405 shares of the information technology services provider’s stock after acquiring an additional 609,565 shares during the quarter. UBS Group AG’s holdings in Wipro were worth $38,779,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Interchange Capital Partners LLC acquired a new stake in Wipro during the third quarter valued at approximately $27,000. Curi Capital LLC acquired a new stake in Wipro during the second quarter valued at approximately $31,000. Walkner Condon Financial Advisors LLC acquired a new stake in Wipro during the third quarter valued at approximately $27,000. Clarendon Private LLC acquired a new stake in Wipro during the third quarter valued at approximately $32,000. Finally, JM2 Capital Inc. acquired a new stake in Wipro during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Price Performance

Shares of WIT stock opened at $1.99 on Friday. Wipro Limited has a 12-month low of $1.97 and a 12-month high of $3.13. The firm has a market capitalization of $20.80 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 4.38 and a beta of 0.92. The business has a 50 day simple moving average of $2.17 and a 200 day simple moving average of $2.50.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 14.97% and a net margin of 14.25%.The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.65 billion. On average, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on WIT. Weiss Ratings cut Wipro from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Morgan Stanley lowered Wipro to an “underweight” rating in a report on Monday, January 19th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wipro presently has a consensus rating of “Reduce”.

Wipro Profile

Wipro Limited (NYSE: WIT) is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.

The company’s service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.