Euro Pacific Asset Management LLC Grows Stock Position in Wipro Limited (NYSE:WIT)

Euro Pacific Asset Management LLC boosted its position in shares of Wipro Limited (NYSE:WIT) by 83.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,634 shares of the information technology services provider’s stock after buying an additional 10,275 shares during the quarter. Euro Pacific Asset Management LLC’s holdings in Wipro were worth $84,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Wipro by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,686 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 2,104 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Wipro by 38.3% during the second quarter. Dimensional Fund Advisors LP now owns 774,867 shares of the information technology services provider’s stock valued at $4,727,000 after buying an additional 214,712 shares during the period. Renaissance Technologies LLC bought a new position in shares of Wipro during the second quarter valued at approximately $737,000. Xponance Inc. raised its holdings in shares of Wipro by 21.7% in the second quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider’s stock worth $97,000 after buying an additional 2,832 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Wipro during the 2nd quarter worth approximately $7,994,000. Institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wipro presently has a consensus rating of “Moderate Buy”.

Wipro Stock Up 0.7 %

Shares of Wipro stock opened at $3.77 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a market cap of $39.35 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.09 and a beta of 0.91. The firm’s 50-day moving average is $4.80 and its two-hundred day moving average is $5.82. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79.

Wipro (NYSE:WIT) 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 net margin of 13.96% and a return on equity of 15.71%. As a group, research analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.