Wipro Limited (NYSE:WIT) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 166.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 782,400 shares of the information technology services provider's stock after purchasing an additional 488,413 shares during the quarter. Prudential Financial Inc.'s holdings in Wipro were worth $2,770,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WIT. Glenmede Trust Co. NA increased its position in shares of Wipro by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock worth $242,000 after acquiring an additional 1,746 shares in the last quarter. Franklin Resources Inc. boosted its position in Wipro by 9.1% during the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock worth $233,000 after purchasing an additional 2,951 shares during the period. Ridgewood Investments LLC increased its holdings in Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc raised its position in Wipro by 100.0% in 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 purchasing an additional 3,631 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 4,851 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Stock Up 2.0 %

Shares of NYSE:WIT traded up $0.06 during trading on Monday, hitting $2.85. The company's stock had a trading volume of 13,825,773 shares, compared to its average volume of 5,047,597. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The stock's 50-day moving average price is $3.33 and its two-hundred day moving average price is $4.77. 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 company has a market capitalization of $29.75 billion, a PE ratio of 19.62, a PEG ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last announced its 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 return on equity of 15.46% and a net margin of 13.96%. As a group, sell-side analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

WIT has been the topic of several analyst reports. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. HSBC raised shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. Finally, StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wipro presently has an average 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.