Allspring Global Investments Holdings LLC bought a new stake in Wipro Limited (NYSE:WIT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 132,675 shares of the information technology services provider's stock, valued at approximately $860,000.
A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Wipro by 37.8% in the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider's stock valued at $57,000 after buying an additional 2,426 shares during the last quarter. Mayflower Financial Advisors LLC purchased a new stake in shares of Wipro during the second quarter valued at approximately $64,000. Oppenheimer & Co. Inc. bought a new stake in Wipro during the first quarter worth $60,000. Abacus Wealth Partners LLC purchased a new position in Wipro in the third quarter worth $71,000. Finally, Werba Rubin Papier Wealth Management bought a new position in Wipro in the 3rd quarter valued at $71,000. 2.36% of the stock is owned by institutional investors.
Wipro Stock Performance
WIT traded up $0.02 during trading hours on Friday, hitting $6.50. The stock had a trading volume of 1,650,974 shares, compared to its average volume of 2,485,406. Wipro Limited has a 1 year low of $4.49 and a 1 year high of $7.01. The company's fifty day simple moving average is $6.45 and its 200 day simple moving average is $6.01. The stock has a market cap of $33.96 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 4.52 and a beta of 0.90. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.
Wall Street Analyst Weigh In
WIT has been the topic of a number of recent analyst reports. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Tuesday. Investec lowered shares of Wipro from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.60.
View Our Latest Analysis on Wipro
Wipro Company Profile
(
Free Report)
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.
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