Deutsche Bank AG Grows Stock Position in Wipro Limited (NYSE:WIT)

Deutsche Bank AG raised its holdings in Wipro Limited (NYSE:WIT) by 105.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 805,594 shares of the information technology services provider’s stock after buying an additional 412,971 shares during the quarter. Deutsche Bank AG’s holdings in Wipro were worth $2,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock valued at $82,692,000 after buying an additional 11,196,013 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Wipro by 36.4% in the fourth quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider’s stock worth $55,925,000 after purchasing an additional 4,215,981 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Wipro by 177.6% in the fourth quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock worth $34,280,000 after purchasing an additional 6,195,561 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Wipro by 41.5% in the fourth quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock worth $30,956,000 after purchasing an additional 2,566,388 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Wipro by 97.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after purchasing an additional 3,722,115 shares during the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Down 0.5%

Shares of WIT stock opened at $2.90 on Thursday. The stock has a 50 day moving average of $2.91 and a 200 day moving average of $3.95. 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 stock has a market cap of $30.28 billion, a P/E ratio of 19.97, a P/E/G ratio of 3.08 and a beta of 1.03. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Wednesday, April 16th. 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%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $225.66 billion. As a group, sell-side analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

WIT has been the subject of several research analyst reports. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned 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”.

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.