Wellington Management Group LLP raised its position in Wipro Limited (NYSE:WIT - Free Report) by 34.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,769,600 shares of the information technology services provider's stock after purchasing an additional 451,820 shares during the quarter. Wellington Management Group LLP's holdings in Wipro were worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC lifted its stake in shares of Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 3,557 shares during the period. Bell Investment Advisors Inc boosted its stake in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after buying an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new stake in Wipro in the fourth quarter worth about $29,000. Farther Finance Advisors LLC lifted its holdings in Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Freestone Capital Holdings LLC bought a new position in shares of Wipro during the 4th quarter valued at about $36,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".
Check Out Our Latest Report on Wipro
Wipro Price Performance
NYSE:WIT traded down $0.07 on Wednesday, reaching $2.76. The stock had a trading volume of 1,698,173 shares, compared to its average volume of 5,038,500. The company has a market capitalization of $28.81 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The stock has a fifty day moving average price of $3.20 and a 200-day moving average price of $4.59.
Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.
Wipro Profile
(
Free Report)
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.
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