Wipro Limited (NYSE:WIT) Shares Acquired by PDS Planning Inc

PDS Planning Inc increased its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 96.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,096 shares of the information technology services provider's stock after buying an additional 88,744 shares during the quarter. PDS Planning Inc's holdings in Wipro were worth $641,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WIT. Fisher Asset Management LLC lifted its position in Wipro by 97.9% during 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 buying an additional 3,722,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Wipro by 208.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider's stock worth $17,592,000 after acquiring an additional 3,359,066 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Wipro by 147.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider's stock worth $12,610,000 after acquiring an additional 2,120,454 shares during the last quarter. Rhumbline Advisers increased its stake in Wipro by 84.6% during the fourth quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider's stock worth $12,394,000 after acquiring an additional 1,604,356 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Wipro during the fourth quarter worth $1,667,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

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Wipro Trading Up 1.5 %

Shares of WIT stock traded up $0.05 on Friday, hitting $3.05. The stock had a trading volume of 7,631,417 shares, compared to its average volume of 5,026,802. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market capitalization of $31.84 billion, a P/E ratio of 21.00, a P/E/G ratio of 3.08 and a beta of 0.94. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company's 50 day moving average price is $3.44 and its 200-day moving average price is $5.04.

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%. Analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.