Wipro Limited (NYSE:WIT) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 89.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 348,859 shares of the information technology services provider's stock after purchasing an additional 165,076 shares during the period. Van ECK Associates Corp's holdings in Wipro were worth $1,235,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp raised its position in Wipro by 0.8% in the third quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider's stock worth $70,157,000 after acquiring an additional 87,682 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Wipro by 72.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider's stock valued at $24,638,000 after purchasing an additional 1,593,619 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Wipro by 147.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider's stock valued at $12,610,000 after purchasing an additional 2,120,454 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Wipro by 116.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider's stock worth $10,435,000 after buying an additional 867,516 shares in the last quarter. Finally, Citigroup Inc. grew its position in Wipro by 8.5% during the third quarter. Citigroup Inc. now owns 842,893 shares of the information technology services provider's stock worth $5,462,000 after buying an additional 65,981 shares during the period. 2.36% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a report on Monday, January 20th. Finally, HSBC raised Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Wipro Price Performance

Shares of WIT stock traded down $0.03 during trading hours on Tuesday, hitting $3.39. The company's stock had a trading volume of 2,405,179 shares, compared to its average volume of 5,396,011. 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 fifty day moving average of $3.59 and a 200-day moving average of $5.40. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The stock has a market cap of $35.40 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 3.08 and a beta of 0.91.

Wipro (NYSE:WIT - Get Free Report) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting 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, equities research analysts anticipate that Wipro Limited will post 0.14 EPS 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.