West Family Investments Inc. raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 84.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 400,246 shares of the information technology services provider's stock after acquiring an additional 183,742 shares during the period. West Family Investments Inc.'s holdings in Wipro were worth $1,417,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Glenmede Trust Co. NA boosted its holdings in Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock worth $242,000 after buying an additional 1,746 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Wipro by 9.1% in the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock worth $233,000 after acquiring an additional 2,951 shares during the period. Cable Hill Partners LLC raised its position in shares of Wipro by 7.6% in the third quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider's stock worth $309,000 after acquiring an additional 3,359 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Wipro by 13.2% during the 3rd quarter. QRG Capital Management Inc. now owns 29,244 shares of the information technology services provider's stock worth $190,000 after acquiring an additional 3,408 shares in the last quarter. Finally, Ridgewood Investments LLC grew its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 3,557 shares during the period. 2.36% of the stock is owned by hedge funds and other institutional investors.
Wipro Price Performance
NYSE:WIT traded down $0.07 during trading hours on Monday, hitting $3.20. 4,643,406 shares of the stock were exchanged, compared to its average volume of 4,948,836. The firm's fifty day moving average price is $3.53 and its 200 day moving average price is $5.23. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The company has a market cap of $33.41 billion, a P/E ratio of 22.04, a P/E/G ratio of 3.08 and a beta of 0.94. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.
Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS 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%. As a group, equities research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on WIT shares. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a report on Monday, January 20th. HSBC raised Wipro from a "reduce" rating to a "hold" rating in a research note on Monday, December 9th. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".
View Our Latest Analysis on Wipro
About Wipro
(
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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