Connor Clark & Lunn Investment Management Ltd. lifted its stake in Wipro Limited (NYSE:WIT - Free Report) by 208.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,969,385 shares of the information technology services provider's stock after purchasing an additional 3,359,066 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Wipro were worth $17,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its holdings in Wipro by 4.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock worth $242,000 after buying an additional 1,746 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Wipro by 9.1% during the 3rd 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. Cable Hill Partners LLC grew its stake in shares of Wipro by 7.6% in the third quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider's stock worth $309,000 after acquiring an additional 3,359 shares during the period. Ridgewood Investments LLC raised its holdings in shares of Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in Wipro by 31.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 14,992 shares of the information technology services provider's stock valued at $97,000 after purchasing an additional 3,558 shares during the period. Institutional investors own 2.36% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on WIT shares. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. Finally, HSBC raised Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Wipro presently has a consensus rating of "Moderate Buy".
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Wipro Stock Performance
WIT traded down $0.02 during trading on Monday, hitting $3.06. The company's stock had a trading volume of 6,519,839 shares, compared to its average volume of 4,999,374. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The business's 50 day simple moving average is $3.49 and its 200-day simple moving average is $5.14. 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 firm has a market cap of $31.95 billion, a PE ratio of 21.07, a P/E/G ratio of 3.08 and a beta of 0.94.
Wipro (NYSE:WIT - Get Free Report) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting 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, sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.
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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