GAM Holding AG Buys 380,000 Shares of Wipro Limited (NYSE:WIT)

GAM Holding AG grew its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 100.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 760,000 shares of the information technology services provider's stock after buying an additional 380,000 shares during the quarter. GAM Holding AG's holdings in Wipro were worth $2,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its position in shares of Wipro by 700.9% during the 4th quarter. Venturi Wealth Management LLC now owns 12,902 shares of the information technology services provider's stock valued at $46,000 after buying an additional 11,291 shares in the last quarter. Sierra Ocean LLC purchased a new position in Wipro in the 4th quarter worth $29,000. Allworth Financial LP raised its position in Wipro by 110.1% in the 4th quarter. Allworth Financial LP now owns 13,836 shares of the information technology services provider's stock worth $51,000 after purchasing an additional 7,251 shares during the period. Rhumbline Advisers raised its position in Wipro by 84.6% in the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider's stock worth $12,394,000 after purchasing an additional 1,604,356 shares during the period. Finally, Quadrant Private Wealth Management LLC purchased a new position in Wipro in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WIT shares. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. Finally, UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Wipro Trading Down 4.3 %

Wipro stock traded down $0.16 during trading hours on Friday, reaching $3.49. The stock had a trading volume of 5,681,875 shares, compared to its average volume of 5,555,602. The stock has a market cap of $36.44 billion, a PE ratio of 24.04, a PEG ratio of 3.10 and a beta of 0.91. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a fifty day simple moving average of $3.60 and a 200-day simple moving average of $5.44.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. 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 net margin of 13.96% and a return on equity of 15.46%. Analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. 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.