Causeway Capital Management LLC Buys 244,403 Shares of Wipro Limited (NYSE:WIT)

Causeway Capital Management LLC lifted its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 488,806 shares of the information technology services provider's stock after purchasing an additional 244,403 shares during the period. Causeway Capital Management LLC's holdings in Wipro were worth $1,730,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ridgewood Investments LLC lifted its stake in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after buying an additional 3,557 shares during the period. Bell Investment Advisors Inc lifted its holdings in shares of 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 purchased a new position in shares of Wipro during the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its holdings in Wipro by 148.3% during the fourth 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 purchased a new stake in shares of Wipro in the fourth quarter valued at about $36,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on WIT shares. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. Two research analysts have 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Wipro Trading Down 0.9 %

Shares of NYSE:WIT traded down $0.03 during midday trading on Friday, hitting $2.71. 5,394,346 shares of the stock traded hands, compared to its average volume of 5,065,976. The business's 50 day moving average is $3.16 and its two-hundred day moving average is $4.55. The stock has a market capitalization of $28.29 billion, a PE ratio of 18.66, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a one year low of $2.55 and a one year high of $3.79.

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

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.