O Shaughnessy Asset Management LLC Increases Stock Holdings in Wipro Limited (NYSE:WIT)

O Shaughnessy Asset Management LLC lifted its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 124.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 866,419 shares of the information technology services provider's stock after acquiring an additional 480,368 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Wipro were worth $3,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock worth $82,692,000 after purchasing an additional 11,196,013 shares in the last quarter. State Street Corp boosted 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 buying an additional 87,682 shares during the period. Schroder Investment Management Group raised its holdings in Wipro by 177.6% during the fourth quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock valued at $34,280,000 after acquiring an additional 6,195,561 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Wipro by 41.5% in the fourth quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider's stock valued at $30,956,000 after acquiring an additional 2,566,388 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake 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 worth $26,636,000 after acquiring an additional 3,722,115 shares during the period. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Price Performance

Shares of WIT traded up $0.03 during mid-day trading on Tuesday, hitting $2.88. 1,485,672 shares of the stock were exchanged, compared to its average volume of 5,489,045. 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 company has a market cap of $30.06 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The firm has a 50-day moving average of $3.33 and a two-hundred day moving average of $4.77.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, equities analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

WIT has been the topic of a number of research analyst reports. UBS Group raised Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Monday, January 20th. Finally, HSBC raised shares of Wipro from a "reduce" rating to a "hold" rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

Wipro Company 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.