West Family Investments Inc. Increases Position in Wipro Limited (NYSE:WIT)

West Family Investments Inc. boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,737 shares of the information technology services provider’s stock after acquiring an additional 4,683 shares during the period. West Family Investments Inc.’s holdings in Wipro were worth $1,191,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in shares of Wipro by 50.1% in the 3rd quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider’s stock worth $32,837,000 after acquiring an additional 2,265,859 shares during the last quarter. Toroso Investments LLC acquired a new stake in shares of Wipro in the 3rd quarter valued at $5,591,000. Vanguard Group Inc. raised its holdings in shares of Wipro by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock valued at $60,368,000 after purchasing an additional 553,433 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Wipro by 107.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 955,404 shares of the information technology services provider’s stock valued at $4,624,000 after purchasing an additional 495,695 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Wipro by 25.8% in the 3rd quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock valued at $9,238,000 after purchasing an additional 390,947 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WIT. Wedbush increased their target price on shares of Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research report on Tuesday, January 16th. BNP Paribas initiated coverage on shares of Wipro in a research report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 target price on the stock. StockNews.com downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.05.

Wipro Trading Up 0.2 %

Shares of NYSE WIT traded up $0.01 during midday trading on Thursday, reaching $5.39. 851,259 shares of the stock were exchanged, compared to its average volume of 2,914,141. The company has a market capitalization of $28.13 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.24 and a beta of 0.86. Wipro Limited has a 52-week low of $4.48 and a 52-week high of $6.45. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $5.79 and a 200-day moving average price of $5.43.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.