Wipro Limited (NYSE:WIT) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 513,752 shares of the information technology services provider's stock after acquiring an additional 81,876 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Wipro were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WIT. 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 worth $70,157,000 after buying an additional 87,682 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Wipro by 72.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider's stock worth $24,638,000 after purchasing an additional 1,593,619 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Wipro by 147.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider's stock worth $12,610,000 after purchasing an additional 2,120,454 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Wipro by 116.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider's stock worth $10,435,000 after purchasing an additional 867,516 shares during the period. Finally, Creative Planning raised its position in shares of Wipro by 24.6% during the third quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider's stock valued at $8,666,000 after buying an additional 263,925 shares during the last quarter. Institutional investors own 2.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on WIT. HSBC raised shares of Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Monday, January 20th. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research note 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy".

Wipro Trading Up 0.4 %

WIT stock traded up $0.02 during midday trading on Monday, reaching $3.69. 1,773,044 shares of the company traded hands, compared to its average volume of 5,970,317. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The business has a 50 day moving average of $4.09 and a 200-day moving average of $5.61. The firm has a market capitalization of $38.54 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 3.13 and a beta of 0.91. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last issued its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, sell-side analysts expect that Wipro Limited will post 0.14 earnings per share 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.