DGS Capital Management LLC Acquires 14,155 Shares of Wipro Limited (NYSE:WIT)

DGS Capital Management LLC raised its position in shares of Wipro Limited (NYSE:WIT) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,646 shares of the information technology services provider’s stock after buying an additional 14,155 shares during the quarter. DGS Capital Management LLC’s holdings in Wipro were worth $889,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Wipro by 4.6% during the third quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock valued at $60,368,000 after buying an additional 553,433 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Wipro by 112.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock valued at $20,734,000 after buying an additional 1,972,425 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Wipro by 3.8% during the fourth quarter. Fisher Asset Management LLC now owns 2,313,160 shares of the information technology services provider’s stock valued at $12,884,000 after buying an additional 84,519 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Wipro by 4.7% during the third 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. Finally, Deutsche Bank AG lifted its position in shares of Wipro by 25.8% during the third quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock valued at $9,238,000 after buying an additional 390,947 shares during the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

Shares of Wipro stock opened at $6.01 on Thursday. The firm has a market capitalization of $31.37 billion, a P/E ratio of 23.48, a PEG ratio of 4.04 and a beta of 0.85. The company has a quick ratio of 2.57, a current ratio of 2.58 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $5.46 and a 200 day moving average price of $5.66. Wipro Limited has a 52 week low of $4.48 and a 52 week high of $6.45.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, April 19th. The information technology services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. Wipro had a net margin of 12.29% and a return on equity of 15.60%. Sell-side analysts expect that Wipro Limited will post 0.27 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Three investment analysts have rated the stock with a sell rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Wipro currently has an average rating of “Hold” and a consensus price target of $5.30.

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.