Mirae Asset Global Investments Co. Ltd. Has $307,000 Holdings in Wipro Limited (NYSE:WIT)

Mirae Asset Global Investments Co. Ltd. grew its position in Wipro Limited (NYSE:WIT) by 93.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,589 shares of the information technology services provider’s stock after purchasing an additional 41,766 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wipro were worth $307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its stake in Wipro by 147.1% during the fourth 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 last quarter. Fisher Asset Management LLC lifted its position in shares of Wipro by 72.2% during 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 buying an additional 1,593,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Wipro by 116.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock valued at $10,435,000 after buying an additional 867,516 shares in the last quarter. Ballentine Partners LLC grew its position in Wipro by 112.5% in the fourth quarter. Ballentine Partners LLC now owns 504,493 shares of the information technology services provider’s stock valued at $1,786,000 after acquiring an additional 267,036 shares during the last quarter. Finally, Creative Planning grew its position in Wipro by 24.6% in 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 acquiring an additional 263,925 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Wipro Stock Up 0.1 %

Shares of NYSE:WIT opened at $3.64 on Friday. The firm has a market cap of $38.01 billion, a P/E ratio of 25.07, a PEG 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. The business’s 50 day simple moving average is $3.88 and its two-hundred day simple moving average is $5.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

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