Yousif Capital Management LLC Raises Position in Wipro Limited (NYSE:WIT)

Yousif Capital Management LLC grew its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 100.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,478 shares of the information technology services provider's stock after buying an additional 79,739 shares during the period. Yousif Capital Management LLC's holdings in Wipro were worth $565,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of WIT. State Street Corp increased its stake in Wipro by 0.8% during the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider's stock valued at $70,157,000 after purchasing an additional 87,682 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Wipro by 72.2% during the third quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider's stock worth $24,638,000 after acquiring an additional 1,593,619 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Wipro by 147.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider's stock worth $12,610,000 after acquiring an additional 2,120,454 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Wipro by 116.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider's stock valued at $10,435,000 after acquiring an additional 867,516 shares in the last quarter. Finally, Creative Planning boosted its stake in Wipro by 24.6% during the 3rd quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider's stock valued at $8,666,000 after purchasing an additional 263,925 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Stock Performance

Shares of NYSE WIT traded down $0.03 during mid-day trading on Thursday, reaching $3.65. 3,830,784 shares of the company's stock were exchanged, compared to its average volume of 5,551,772. The firm has a market capitalization of $38.12 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The firm has a 50-day moving average price of $3.60 and a two-hundred day moving average price of $5.47.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. 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 EPS for the current year.

Analyst Ratings Changes

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

Wipro Company 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.