Mariner LLC Purchases 281,125 Shares of Wipro Limited (NYSE:WIT)

Mariner LLC raised its position in Wipro Limited (NYSE:WIT - Free Report) by 107.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 542,804 shares of the information technology services provider's stock after buying an additional 281,125 shares during the quarter. Mariner LLC's holdings in Wipro were worth $1,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WIT. Franklin Resources Inc. increased its stake in Wipro by 9.1% in the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock valued at $233,000 after acquiring an additional 2,951 shares during the last quarter. DGS Capital Management LLC increased its stake in shares of Wipro by 4.5% in the 3rd quarter. DGS Capital Management LLC now owns 195,441 shares of the information technology services provider's stock valued at $1,266,000 after purchasing an additional 8,360 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wipro by 161.3% during the 4th quarter. GAMMA Investing LLC now owns 23,099 shares of the information technology services provider's stock worth $82,000 after buying an additional 14,258 shares in the last quarter. Diversified Trust Co lifted its position in shares of Wipro by 361.4% during the 4th quarter. Diversified Trust Co now owns 89,056 shares of the information technology services provider's stock worth $315,000 after buying an additional 69,755 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Wipro in the fourth quarter valued at about $44,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WIT has been the subject of a number of research reports. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two research analysts have 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.com, the stock has an average rating of "Hold".

Wipro Trading Down 0.4 %

Shares of NYSE:WIT traded down $0.01 during midday trading on Friday, hitting $2.84. 5,406,685 shares of the stock were exchanged, compared to its average volume of 5,050,022. The business's 50-day moving average price is $3.06 and its 200 day moving average price is $4.38. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $29.70 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

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.