Renaissance Technologies LLC Boosts Stock Position in Wipro Limited (NYSE:WIT)

Renaissance Technologies LLC grew its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 323.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 768,000 shares of the information technology services provider's stock after acquiring an additional 586,800 shares during the quarter. Renaissance Technologies LLC's holdings in Wipro were worth $2,719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WIT. Franklin Resources Inc. boosted its stake in shares of Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock valued at $233,000 after purchasing an additional 2,951 shares in the last quarter. Ridgewood Investments LLC grew its stake in shares of Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc raised its position in Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 3,631 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after buying an additional 4,851 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Wipro by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider's stock worth $244,000 after acquiring an additional 6,323 shares during the period. 2.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group upgraded 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 research report on Saturday. Finally, Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Wipro Stock Up 0.9 %

WIT traded up $0.03 during mid-day trading on Tuesday, reaching $2.87. 3,280,743 shares of the stock were exchanged, compared to its average volume of 5,051,965. 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 50 day moving average price of $3.04 and a two-hundred day moving average price of $4.35. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The stock has a market capitalization of $29.96 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last released its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, research analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

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.