Signaturefd LLC Raises Stock Position in Wipro Limited (NYSE:WIT)

Signaturefd LLC raised its position in Wipro Limited (NYSE:WIT - Free Report) by 97.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 591,357 shares of the information technology services provider's stock after acquiring an additional 292,229 shares during the period. Signaturefd LLC's holdings in Wipro were worth $2,093,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC purchased a new position in Wipro during the fourth quarter worth about $61,000. Tobam purchased a new position in shares of Wipro during the 4th quarter worth approximately $261,000. Van ECK Associates Corp lifted its holdings in shares of Wipro by 89.8% in the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock valued at $1,235,000 after buying an additional 165,076 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wipro by 93.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock valued at $307,000 after buying an additional 41,766 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Wipro during the third quarter worth $610,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Price Performance

WIT traded up $0.05 during midday trading on Friday, reaching $3.05. 7,631,417 shares of the company's stock were exchanged, compared to its average volume of 5,451,860. The business's 50-day moving average price is $3.45 and its 200 day moving average price is $5.07. The stock has a market capitalization of $31.84 billion, a PE ratio of 21.00, a P/E/G ratio of 3.08 and a beta of 0.94. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

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Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting 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 analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on WIT shares. HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock 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.