GAM Holding AG Purchases 380,000 Shares of Wipro Limited (NYSE:WIT)

GAM Holding AG lifted its holdings in Wipro Limited (NYSE:WIT) by 100.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 760,000 shares of the information technology services provider’s stock after acquiring an additional 380,000 shares during the period. GAM Holding AG’s holdings in Wipro were worth $2,690,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of WIT. Perigon Wealth Management LLC acquired a new stake in Wipro during the fourth quarter worth approximately $61,000. Tobam bought a new stake in shares of Wipro during the 4th quarter worth approximately $261,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock worth $307,000 after acquiring an additional 41,766 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Wipro in the third quarter valued at approximately $610,000. Finally, Bleakley Financial Group LLC raised its position in Wipro by 102.0% during the fourth quarter. Bleakley Financial Group LLC now owns 32,974 shares of the information technology services provider’s stock valued at $117,000 after purchasing an additional 16,651 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 0.1 %

Shares of WIT opened at $3.64 on Tuesday. The company has a market capitalization of $38.01 billion, a PE ratio of 25.07, a PEG ratio of 3.13 and a beta of 0.91. The stock’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $5.52. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79.

Wipro (NYSE:WIT) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS 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%. On average, analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

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

About Wipro

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.