Integrated Quantitative Investments LLC Acquires New Position in Wipro Limited (NYSE:WIT)

Integrated Quantitative Investments LLC acquired a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 395,800 shares of the information technology services provider's stock, valued at approximately $1,401,000. Wipro comprises about 0.7% of Integrated Quantitative Investments LLC's portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its position in shares of Wipro by 4.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock valued at $242,000 after purchasing an additional 1,746 shares during the last quarter. Franklin Resources Inc. increased its position in Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock valued at $233,000 after acquiring an additional 2,951 shares during the last quarter. Ridgewood Investments LLC lifted its holdings in shares of Wipro by 100.0% in 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. Bell Investment Advisors Inc boosted its stake in shares of Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 3,631 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 4,851 shares during the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Down 0.5 %

Wipro stock traded down $0.02 during midday trading on Wednesday, hitting $2.77. 3,605,794 shares of the company's stock were exchanged, compared to its average volume of 5,608,800. The firm has a 50-day moving average of $3.30 and a two-hundred day moving average of $4.73. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a market cap of $28.91 billion, a PE ratio of 19.07, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on WIT shares. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday. Finally, UBS Group raised Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold".

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.