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

Migdal Insurance & Financial Holdings Ltd. grew its holdings in Wipro Limited (NYSE:WIT) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 513,752 shares of the information technology services provider’s stock after acquiring an additional 81,876 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Wipro were worth $1,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Leo Wealth LLC bought a new position in shares of Wipro during the fourth quarter valued at approximately $40,000. Adero Partners LLC bought a new position in shares of Wipro during the fourth quarter valued at approximately $79,000. Bleakley Financial Group LLC boosted its stake in shares of 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. Choreo LLC boosted its stake in shares of Wipro by 94.6% during the fourth quarter. Choreo LLC now owns 25,212 shares of the information technology services provider’s stock valued at $89,000 after purchasing an additional 12,259 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Wipro by 93.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock valued at $307,000 after acquiring an additional 41,766 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.7 %

NYSE:WIT opened at $3.69 on Friday. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The firm has a fifty day simple moving average of $4.22 and a 200-day simple moving average of $5.64. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $38.54 billion, a P/E ratio of 25.42, a PEG ratio of 3.10 and a beta of 0.91.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 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%. On average, equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

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

Wipro 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.