BNP Paribas Arbitrage SA Buys 48,414 Shares of Wipro Limited (NYSE:WIT)

BNP Paribas Arbitrage SA boosted its stake in shares of Wipro Limited (NYSE:WITGet Rating) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,986 shares of the information technology services provider’s stock after purchasing an additional 48,414 shares during the period. BNP Paribas Arbitrage SA’s holdings in Wipro were worth $6,344,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WIT. BlackRock Inc. increased its holdings in Wipro by 2.6% during the third quarter. BlackRock Inc. now owns 15,242,376 shares of the information technology services provider’s stock valued at $134,590,000 after buying an additional 383,028 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Wipro by 49.9% during the third quarter. Goldman Sachs Group Inc. now owns 6,275,164 shares of the information technology services provider’s stock valued at $55,409,000 after buying an additional 2,087,758 shares during the last quarter. Morgan Stanley increased its holdings in Wipro by 20.7% during the third quarter. Morgan Stanley now owns 3,617,287 shares of the information technology services provider’s stock valued at $31,941,000 after buying an additional 620,454 shares during the last quarter. Nordea Investment Management AB increased its holdings in Wipro by 1.0% during the fourth quarter. Nordea Investment Management AB now owns 3,490,734 shares of the information technology services provider’s stock valued at $34,052,000 after buying an additional 33,197 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Wipro by 60.7% during the third quarter. Millennium Management LLC now owns 2,831,448 shares of the information technology services provider’s stock valued at $25,002,000 after buying an additional 1,068,990 shares during the last quarter. Institutional investors own 2.30% of the company’s stock.

A number of brokerages have commented on WIT. Jefferies Financial Group raised shares of Wipro from an “underperform” rating to a “hold” rating and reduced their target price for the company from $8.55 to $7.70 in a report on Friday, February 4th. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research note on Saturday, May 7th. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday. CLSA raised shares of Wipro from an “underperform” rating to an “outperform” rating in a research note on Monday, February 21st. Finally, Macquarie initiated coverage on shares of Wipro in a research note on Monday, April 11th. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.31.

WIT opened at $6.15 on Friday. The stock has a market capitalization of $33.61 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.27 and a beta of 0.85. The company has a fifty day moving average of $7.23 and a 200 day moving average of $8.03. Wipro Limited has a fifty-two week low of $6.01 and a fifty-two week high of $9.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.01 and a current ratio of 2.01.

The business also recently announced a dividend, which was paid on Wednesday, April 6th. Investors of record on Wednesday, April 6th were paid a dividend of $0.059 per share. This is a boost from Wipro’s previous dividend of $0.02. The ex-dividend date of this dividend was Tuesday, April 5th. Wipro’s dividend payout ratio (DPR) is presently 24.14%.

Wipro Profile (Get Rating)

Wipro Limited operates as 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 consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure, analytics, business process, research and development, and hardware and software design services to enterprises.

Further Reading

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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