Wipro Limited (NYSE:WIT) Shares Bought by Shelton Capital Management

Shelton Capital Management grew its stake in Wipro Limited (NYSE:WIT - Free Report) by 75.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 281,400 shares of the information technology services provider's stock after purchasing an additional 120,700 shares during the period. Shelton Capital Management's holdings in Wipro were worth $996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock valued at $82,692,000 after purchasing an additional 11,196,013 shares during the period. Schroder Investment Management Group increased its position in shares of Wipro by 177.6% during the fourth quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock worth $34,280,000 after purchasing an additional 6,195,561 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Wipro by 97.9% in 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 acquiring an additional 3,722,115 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Wipro in the 4th quarter worth approximately $12,795,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 valued at $17,592,000 after buying an additional 3,359,066 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Price Performance

NYSE:WIT remained flat at $2.85 on Tuesday. 3,054,106 shares of the company's stock traded hands, compared to its average volume of 5,043,125. The firm has a market capitalization of $29.80 billion, a PE ratio of 19.66, a price-to-earnings-growth 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 stock has a fifty day moving average price of $3.22 and a two-hundred day moving average price of $4.60. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (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%. As a group, analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently 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 shares of Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Finally, Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company 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.