Allspring Global Investments Holdings LLC Makes New $860,000 Investment in Wipro Limited (NYSE:WIT)

Allspring Global Investments Holdings LLC purchased a new position in Wipro Limited (NYSE:WIT) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 132,675 shares of the information technology services provider’s stock, valued at approximately $860,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WIT. GAMMA Investing LLC increased its holdings in shares of Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after acquiring an additional 2,426 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Wipro in the first quarter worth approximately $60,000. Mayflower Financial Advisors LLC purchased a new stake in shares of Wipro during the second quarter valued at approximately $64,000. Abacus Wealth Partners LLC bought a new stake in shares of Wipro during the third quarter valued at approximately $71,000. Finally, Werba Rubin Papier Wealth Management bought a new position in Wipro in the 3rd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Down 3.0 %

Shares of WIT opened at $6.48 on Friday. The business has a fifty day moving average of $6.44 and a 200 day moving average of $6.00. The company has a market cap of $33.85 billion, a PE ratio of 24.00, a P/E/G ratio of 4.43 and a beta of 0.90. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52-week low of $4.49 and a 52-week high of $7.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WIT shares. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday. Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.60.

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.