Marshall Wace LLP Purchases Shares of 5,652,032 Wipro Limited (NYSE:WIT)

Marshall Wace LLP acquired a new position in Wipro Limited (NYSE:WIT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,652,032 shares of the information technology services provider's stock, valued at approximately $20,008,000. Marshall Wace LLP owned approximately 0.05% of Wipro as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC raised 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 valued at $25,000 after acquiring an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new stake in Wipro during the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its stake in Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after buying an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC bought a new position in shares of Wipro in the 4th quarter worth $36,000. Institutional investors own 2.36% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on WIT shares. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. StockNews.com lowered Wipro from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Wipro Trading Down 0.2 %

Shares of NYSE:WIT traded down $0.01 on Friday, reaching $2.85. 2,958,608 shares of the company traded hands, compared to its average volume of 6,077,855. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $3.07 and its 200 day simple moving average is $4.42. The stock has a market capitalization of $29.75 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. The business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.