Migdal Insurance & Financial Holdings Ltd. Increases Stock Holdings in Wipro Limited (NYSE:WIT)

Migdal Insurance & Financial Holdings Ltd. boosted its stake in Wipro Limited (NYSE:WIT) by 83.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,876 shares of the information technology services provider’s stock after acquiring an additional 96,260 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Wipro were worth $1,180,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Deutsche Bank AG lifted its stake in shares of Wipro by 25.8% in the third quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock worth $9,238,000 after acquiring an additional 390,947 shares in the last quarter. Vanguard Group Inc. raised its position 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. Rhumbline Advisers boosted its stake in shares of Wipro by 4.7% during the 3rd quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock valued at $9,343,000 after buying an additional 86,226 shares during the last quarter. Blue Trust Inc. grew its position in shares of Wipro by 63.1% during the fourth quarter. Blue Trust Inc. now owns 22,312 shares of the information technology services provider’s stock worth $124,000 after buying an additional 8,634 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Wipro by 2,845,900.0% in the third quarter. Barclays PLC now owns 369,980 shares of the information technology services provider’s stock worth $1,790,000 after buying an additional 369,967 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Price Performance

Shares of NYSE:WIT opened at $5.26 on Thursday. The company has a market cap of $27.42 billion, a PE ratio of 21.02, a P/E/G ratio of 2.13 and a beta of 0.87. Wipro Limited has a fifty-two week low of $4.32 and a fifty-two week high of $6.45. The firm has a 50-day simple moving average of $5.94 and a 200 day simple moving average of $5.40. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

WIT has been the topic of a number of research analyst reports. BNP Paribas began coverage on shares of Wipro in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.20 price objective on the stock. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wedbush lifted their target price on Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. According to MarketBeat, Wipro currently has a consensus rating of “Reduce” and an average price target of $5.05.

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.