Quadrant Capital Group LLC Purchases 409,873 Shares of Wipro Limited (NYSE:WIT)

Quadrant Capital Group LLC grew its holdings in Wipro Limited (NYSE:WIT - Free Report) by 104.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 803,134 shares of the information technology services provider's stock after purchasing an additional 409,873 shares during the period. Quadrant Capital Group LLC's holdings in Wipro were worth $2,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WIT. Perigon Wealth Management LLC bought a new stake in shares of Wipro in the 4th quarter valued at approximately $61,000. HighTower Advisors LLC lifted its holdings in Wipro by 292.0% in the 4th quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock worth $221,000 after purchasing an additional 46,432 shares during the last quarter. Tobam bought a new position in shares of Wipro in the fourth quarter valued at approximately $261,000. Van ECK Associates Corp boosted its holdings in shares of Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock worth $1,235,000 after buying an additional 165,076 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Wipro by 93.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock worth $307,000 after acquiring an additional 41,766 shares during the period. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Down 0.5 %

NYSE:WIT traded down $0.02 during trading hours on Friday, hitting $2.83. The stock had a trading volume of 3,471,957 shares, compared to its average volume of 5,051,318. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The company has a market cap of $29.54 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 3.08 and a beta of 0.96. 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 business's 50 day moving average is $3.25 and its 200-day moving average is $4.66.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wipro presently has an average rating of "Hold".

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.