Wipro Limited (NYSE:WIT) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 84.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,501,225 shares of the information technology services provider's stock after buying an additional 1,604,356 shares during the quarter. Rhumbline Advisers' holdings in Wipro were worth $12,394,000 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. Quadrant Private Wealth Management LLC purchased a new stake in Wipro in the fourth quarter valued at $44,000. V Square Quantitative Management LLC raised its position in Wipro by 135.2% in the fourth quarter. V Square Quantitative Management LLC now owns 162,325 shares of the information technology services provider's stock valued at $582,000 after purchasing an additional 93,316 shares during the period. Newport Capital Group LLC raised its position in Wipro by 100.0% in the fourth quarter. Newport Capital Group LLC now owns 29,208 shares of the information technology services provider's stock valued at $103,000 after purchasing an additional 14,604 shares during the period. Intelligence Driven Advisers LLC purchased a new stake in Wipro in the fourth quarter valued at $63,000. Finally, Avestar Capital LLC purchased a new stake in Wipro in the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WIT. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. Finally, HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wipro has an average rating of "Moderate Buy".

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Wipro Trading Down 0.1 %

Shares of WIT stock traded down $0.01 on Thursday, hitting $3.37. The stock had a trading volume of 4,074,116 shares, compared to its average volume of 5,340,150. 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 $35.19 billion, a P/E ratio of 23.21, a P/E/G ratio of 3.08 and a beta of 0.91. 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 $3.58 and its 200-day moving average price is $5.39.

Wipro (NYSE:WIT - Get Free Report) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS 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.

About Wipro

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.