Caprock Group LLC lifted its position in Wipro Limited (NYSE:WIT - Free Report) by 89.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,396 shares of the information technology services provider's stock after acquiring an additional 143,926 shares during the quarter. Caprock Group LLC's holdings in Wipro were worth $1,078,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its position in 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 period. BSW Wealth Partners boosted its stake in shares of Wipro by 2.8% during the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider's stock valued at $573,000 after purchasing an additional 2,418 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 buying an additional 2,426 shares during the period. Franklin Resources Inc. lifted its holdings 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 worth $233,000 after buying an additional 2,951 shares during the period. Finally, PDS Planning Inc lifted its holdings in Wipro by 3.7% during the third quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider's stock worth $598,000 after buying an additional 3,302 shares during the period. 2.36% of the stock is owned by hedge funds and other institutional investors.
Wipro Stock Down 0.8 %
Shares of Wipro stock traded down $0.03 during trading on Friday, reaching $3.67. The company's stock had a trading volume of 4,723,880 shares, compared to its average volume of 6,139,635. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $5.63. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a market cap of $38.38 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.10 and a beta of 0.91.
Wipro (NYSE:WIT - Get Free Report) last issued 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 year.
Wall Street Analyst Weigh In
Several research firms have recently commented on WIT. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a research note on Monday, December 9th. Finally, UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".
Read Our Latest Stock Report on WIT
About Wipro
(
Free Report)
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.
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