US Bancorp DE Acquires 425,451 Shares of Wipro Limited (NYSE:WIT)

US Bancorp DE increased its holdings in shares of Wipro Limited (NYSE:WIT) by 128.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 756,665 shares of the information technology services provider’s stock after acquiring an additional 425,451 shares during the period. US Bancorp DE’s holdings in Wipro were worth $2,679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC lifted its stake in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 3,557 shares during the last quarter. Sierra Ocean LLC bought a new stake in Wipro during the 4th quarter valued at $29,000. Beacon Financial Group bought a new stake in Wipro during the 4th quarter valued at $38,000. Leo Wealth LLC bought a new stake in Wipro during the 4th quarter valued at $40,000. Finally, Flputnam Investment Management Co. bought a new stake in Wipro during the 4th quarter valued at $40,000. 2.36% of the stock is owned by institutional investors.

Wipro Trading Down 1.4 %

Shares of NYSE:WIT opened at $3.28 on Friday. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The business’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $5.29. The company has a market capitalization of $34.25 billion, a PE ratio of 22.59, a P/E/G ratio of 3.08 and a beta of 0.91. 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 announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, equities research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WIT has been the subject of a number of research analyst reports. UBS Group raised 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 research report on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, two have assigned 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”.

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.