American Century Companies Inc. Boosts Holdings in Wipro Limited (NYSE:WIT)

American Century Companies Inc. boosted its position in Wipro Limited (NYSE:WIT - Free Report) by 112.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,809,881 shares of the information technology services provider's stock after acquiring an additional 958,955 shares during the period. American Century Companies Inc.'s holdings in Wipro were worth $6,407,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Wipro by 0.8% in the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider's stock worth $70,157,000 after purchasing an additional 87,682 shares in the last quarter. Fisher Asset Management LLC raised its stake in Wipro by 97.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock worth $26,636,000 after buying an additional 3,722,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Wipro by 208.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider's stock valued at $17,592,000 after acquiring an additional 3,359,066 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Wipro by 147.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider's stock worth $12,610,000 after acquiring an additional 2,120,454 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Wipro by 84.6% in the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider's stock worth $12,394,000 after acquiring an additional 1,604,356 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Stock Up 4.0 %

Shares of WIT traded up $0.11 on Wednesday, hitting $2.89. 11,722,456 shares of the stock traded hands, compared to its average volume of 5,055,647. The company has a market capitalization of $30.22 billion, a PE ratio of 19.93, a P/E/G ratio of 3.08 and a beta of 0.96. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The business has a 50 day simple moving average of $3.27 and a 200 day simple moving average of $4.69.

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

Analyst Ratings Changes

WIT has been the topic of a number of recent research reports. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. Jefferies Financial Group downgraded shares of 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 given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold".

Wipro 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.