JPMorgan Chase & Co. Purchases 2,566,388 Shares of Wipro Limited (NYSE:WIT)

JPMorgan Chase & Co. boosted its stake in Wipro Limited (NYSE:WIT - Free Report) by 41.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,744,712 shares of the information technology services provider's stock after purchasing an additional 2,566,388 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Wipro worth $30,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in Wipro by 62.0% during the third quarter. FMR LLC now owns 166,071 shares of the information technology services provider's stock worth $1,076,000 after buying an additional 63,586 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Wipro by 89.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,557 shares of the information technology services provider's stock valued at $1,643,000 after purchasing an additional 119,883 shares in the last quarter. Centiva Capital LP purchased a new position in Wipro during the third quarter worth about $140,000. Quantinno Capital Management LP bought a new stake in Wipro in the 3rd quarter worth about $702,000. Finally, State Street Corp increased its stake in Wipro by 0.8% in the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider's stock valued at $70,157,000 after buying an additional 87,682 shares during the last quarter. 2.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a report on Monday, January 20th. Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday. Finally, UBS Group raised Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold".

Wipro Stock Performance

Shares of WIT stock traded down $0.01 during trading hours on Friday, hitting $2.84. 7,922,255 shares of the company were exchanged, compared to its average volume of 5,059,715. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $3.23 and a 200 day simple moving average of $4.64. The stock has a market capitalization of $29.65 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last released its 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 return on equity of 15.46% and a net margin of 13.96%. Research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Company 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.