Bridgewater Advisors Inc. Increases Stock Position in Wipro Limited (NYSE:WIT)

Bridgewater Advisors Inc. grew its position in shares of Wipro Limited (NYSE:WIT) by 109.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,996 shares of the information technology services provider’s stock after purchasing an additional 99,955 shares during the period. Bridgewater Advisors Inc.’s holdings in Wipro were worth $649,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WIT. Aaron Wealth Advisors LLC purchased a new stake in Wipro during the fourth quarter valued at $63,000. HB Wealth Management LLC boosted its position in shares of Wipro by 100.0% during the fourth quarter. HB Wealth Management LLC now owns 35,556 shares of the information technology services provider’s stock valued at $126,000 after buying an additional 17,778 shares during the period. Cherrydale Wealth Management LLC grew its position in Wipro by 100.0% in the 4th quarter. Cherrydale Wealth Management LLC now owns 41,168 shares of the information technology services provider’s stock valued at $146,000 after acquiring an additional 20,584 shares during the last quarter. Ritholtz Wealth Management increased its stake in Wipro by 127.9% in the fourth quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider’s stock worth $919,000 after purchasing an additional 145,629 shares during the period. Finally, Essex Savings Bank boosted its stake in shares of Wipro by 100.0% during the fourth quarter. Essex Savings Bank now owns 27,310 shares of the information technology services provider’s stock valued at $96,000 after purchasing an additional 13,655 shares during the period. 2.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wipro presently has an average rating of “Moderate Buy”.

Wipro Price Performance

Shares of WIT opened at $3.52 on Wednesday. The stock has a market capitalization of $36.73 billion, a PE ratio of 24.24, a PEG ratio of 4.44 and a beta of 0.91. The company has a 50 day moving average price of $4.99 and a 200-day moving average price of $5.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.75.

Wipro (NYSE:WIT) 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 the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. Equities analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal 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.