Natixis Advisors LLC grew its stake in Wipro Limited (NYSE:WIT - Free Report) by 109.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,727 shares of the information technology services provider's stock after purchasing an additional 175,822 shares during the period. Natixis Advisors LLC's holdings in Wipro were worth $1,192,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of 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 valued at $70,157,000 after purchasing an additional 87,682 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of 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 valued at $26,636,000 after buying an additional 3,722,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Wipro by 208.6% in the fourth 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 buying an additional 3,359,066 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position 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 valued at $12,610,000 after buying an additional 2,120,454 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Wipro by 84.6% in the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider's stock valued at $12,394,000 after acquiring an additional 1,604,356 shares during the period. Institutional investors and hedge funds own 2.36% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. One equities research analyst has 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, Wipro has a consensus rating of "Moderate Buy".
View Our Latest Analysis on WIT
Wipro Price Performance
Shares of Wipro stock traded down $0.10 during trading hours on Friday, reaching $3.04. 2,516,580 shares of the company's stock were exchanged, compared to its average volume of 5,048,530. The business has a fifty day moving average of $3.41 and a two-hundred day moving average of $4.92. The company has a market capitalization of $31.74 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. 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 1 year low of $2.55 and a 1 year high of $3.79.
Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.
Wipro Company Profile
(
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.
Further Reading
Before you consider Wipro, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wipro wasn't on the list.
While Wipro currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
