Migdal Insurance & Financial Holdings Ltd. Acquires 81,876 Shares of Wipro Limited (NYSE:WIT)

Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Wipro Limited (NYSE:WIT) by 19.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 513,752 shares of the information technology services provider’s stock after buying an additional 81,876 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Wipro were worth $1,819,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Wipro by 38.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 774,867 shares of the information technology services provider’s stock worth $4,727,000 after purchasing an additional 214,712 shares in the last quarter. GAMMA Investing LLC raised its position in Wipro by 37.8% in the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after buying an additional 2,426 shares during the last quarter. Diversified Trust Co purchased a new position in Wipro in the 3rd quarter worth about $125,000. Atomi Financial Group Inc. raised its position in Wipro by 37.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,842 shares of the information technology services provider’s stock worth $129,000 after buying an additional 5,375 shares during the last quarter. Finally, First Affirmative Financial Network raised its position in Wipro by 37.0% in the 3rd quarter. First Affirmative Financial Network now owns 15,844 shares of the information technology services provider’s stock worth $103,000 after buying an additional 4,278 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.7 %

Wipro stock opened at $3.69 on Friday. The firm has a 50 day moving average of $4.22 and a 200 day moving average of $5.64. The firm has a market capitalization of $38.54 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 3.10 and a beta of 0.91. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. 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 (NYSE:WIT) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting 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 predict that Wipro Limited will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

WIT has been the subject of a number of recent analyst reports. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wipro currently has an average rating of “Moderate Buy”.

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.