Victory Capital Management Inc. Purchases 134,357 Shares of Wipro Limited (NYSE:WIT)

Victory Capital Management Inc. boosted its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 65.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 340,463 shares of the information technology services provider's stock after buying an additional 134,357 shares during the quarter. Victory Capital Management Inc.'s holdings in Wipro were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC bought a new position in Wipro in the 4th quarter worth $61,000. Tobam bought a new position in Wipro in the 4th quarter worth $261,000. Van ECK Associates Corp raised its holdings in Wipro by 89.8% in the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock worth $1,235,000 after purchasing an additional 165,076 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Wipro by 93.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock worth $307,000 after purchasing an additional 41,766 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Wipro in the 3rd quarter worth $610,000. 2.36% of the stock is currently owned by institutional investors.

Wipro Stock Performance

Shares of NYSE WIT traded up $0.05 during trading on Friday, reaching $3.05. 7,631,417 shares of the company traded hands, compared to its average volume of 5,005,719. The firm has a 50 day simple moving average of $3.44 and a 200-day simple moving average of $5.03. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $31.84 billion, a PE ratio of 21.00, a P/E/G ratio of 3.08 and a beta of 0.94. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

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Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. 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%. Equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on WIT. HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. StockNews.com raised 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

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.