Barings LLC Takes Position in Wipro Limited (NYSE:WIT)

Barings LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 34,104 shares of the information technology services provider’s stock, valued at approximately $121,000.

Several other large investors also recently modified their holdings of the stock. Fisher Asset Management LLC boosted its holdings in shares of Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Wipro by 147.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock valued at $12,610,000 after purchasing an additional 2,120,454 shares in the last quarter. Rhumbline Advisers boosted its position in Wipro by 84.6% during the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock valued at $12,394,000 after acquiring an additional 1,604,356 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Wipro by 116.8% during the third 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 purchasing an additional 867,516 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Wipro during the fourth quarter worth about $1,667,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC raised 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 research report on Monday, January 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wipro has a consensus rating of “Moderate Buy”.

Wipro Trading Down 0.2 %

Shares of NYSE WIT opened at $3.28 on Monday. 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 business’s 50 day moving average price is $3.53 and its 200-day moving average price is $5.25. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The company has a market cap of $34.25 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, sell-side analysts expect 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.