Wipro Limited (NYSE:WIT) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,200 shares of the information technology services provider's stock after buying an additional 89,600 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Wipro were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Ridgewood Investments LLC lifted its stake 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 worth $25,000 after purchasing an additional 3,557 shares during the period. Bell Investment Advisors Inc raised 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 worth $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC acquired a new position in shares of Wipro in the 4th quarter valued at $29,000. Farther Finance Advisors LLC grew its stake in shares of Wipro by 148.3% during 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 buying an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Wipro during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Stock Up 2.0 %

Shares of WIT traded up $0.06 during mid-day trading on Monday, reaching $2.85. 13,825,773 shares of the stock traded hands, compared to its average volume of 5,047,597. The stock has a fifty day simple moving average of $3.33 and a 200 day simple moving average of $4.77. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. 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 firm has a market cap of $29.75 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Sell-side analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

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

Wipro 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.