Allspring Global Investments Holdings LLC Has $994,000 Stock Holdings in Wipro Limited (NYSE:WIT)

Allspring Global Investments Holdings LLC increased its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 109.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,550 shares of the information technology services provider's stock after purchasing an additional 145,875 shares during the period. Allspring Global Investments Holdings LLC's holdings in Wipro were worth $994,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Glenmede Trust Co. NA lifted its holdings in Wipro by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock valued at $242,000 after acquiring an additional 1,746 shares during the period. BSW Wealth Partners increased its stake in shares of Wipro by 2.8% during the 3rd quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider's stock worth $573,000 after purchasing an additional 2,418 shares in the last quarter. Franklin Resources Inc. raised its holdings in Wipro by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock valued at $233,000 after acquiring an additional 2,951 shares during the last quarter. PDS Planning Inc lifted its position in Wipro by 3.7% during the third quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider's stock worth $598,000 after buying an additional 3,302 shares during the period. Finally, Cable Hill Partners LLC boosted its stake in Wipro by 7.6% in the 3rd quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider's stock worth $309,000 after buying an additional 3,359 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

WIT has been the subject of several research reports. HSBC upgraded 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 report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Wipro has a consensus rating of "Moderate Buy".

Wipro Stock Down 0.1 %

Shares of Wipro stock traded down $0.01 during midday trading on Thursday, hitting $3.37. The company's stock had a trading volume of 4,074,116 shares, compared to its average volume of 5,340,150. The stock has a 50-day simple moving average of $3.58 and a 200-day simple moving average of $5.39. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $35.19 billion, a P/E ratio of 23.21, a PEG ratio of 3.08 and a beta of 0.91. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79.

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