Wipro Limited (NYSE:WIT) Shares Purchased by Vestcor Inc

Vestcor Inc grew its stake in Wipro Limited (NYSE:WIT - Free Report) by 62.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,025,060 shares of the information technology services provider's stock after buying an additional 393,258 shares during the period. Vestcor Inc's holdings in Wipro were worth $3,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake 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 valued at $26,636,000 after acquiring an additional 3,722,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Wipro by 208.6% in the 4th 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 purchasing an additional 3,359,066 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Wipro by 147.1% in the 4th 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. Rhumbline Advisers grew its stake in Wipro by 84.6% during the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider's stock worth $12,394,000 after buying an additional 1,604,356 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Wipro during the fourth quarter worth approximately $1,667,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

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Wipro Stock Performance

Shares of WIT stock traded down $0.05 during midday trading on Tuesday, hitting $3.01. The company had a trading volume of 4,734,773 shares, compared to its average volume of 4,998,291. The stock has a market cap of $31.42 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.08 and a beta of 0.94. 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 company's 50 day simple moving average is $3.48 and its 200 day simple moving average is $5.12. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. HSBC raised Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Wipro currently has a consensus rating of "Moderate Buy".

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.