Russell Investments Group Ltd. Purchases Shares of 145,634 Wipro Limited (NYSE:WIT)

Russell Investments Group Ltd. bought a new position in shares of Wipro Limited (NYSE:WIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 145,634 shares of the information technology services provider's stock, valued at approximately $516,000.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings 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 worth $233,000 after purchasing an additional 2,951 shares during the last quarter. DGS Capital Management LLC grew its holdings in shares of Wipro by 4.5% during the third quarter. DGS Capital Management LLC now owns 195,441 shares of the information technology services provider's stock worth $1,266,000 after purchasing an additional 8,360 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Wipro by 161.3% during the fourth quarter. GAMMA Investing LLC now owns 23,099 shares of the information technology services provider's stock worth $82,000 after purchasing an additional 14,258 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Wipro by 361.4% during the fourth quarter. Diversified Trust Co now owns 89,056 shares of the information technology services provider's stock worth $315,000 after purchasing an additional 69,755 shares during the last quarter. Finally, Fulton Bank N.A. bought a new stake in shares of Wipro during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Up 0.5 %

WIT stock traded up $0.02 during trading on Tuesday, hitting $2.86. The company had a trading volume of 5,895,379 shares, compared to its average volume of 5,057,925. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $3.03 and a 200-day moving average of $4.33. The stock has a market cap of $29.86 billion, a PE ratio of 19.69, a PEG ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. 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%. The firm had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $225.66 billion. Research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently 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 upgraded Wipro from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wipro presently has an average rating of "Hold".

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.