TIAA Trust National Association Invests $80,000 in Wipro Limited (NYSE:WIT)

TIAA Trust National Association bought a new stake in shares of Wipro Limited (NYSE:WIT) in the 4th quarter, Holdings Channel.com reports. The firm bought 22,566 shares of the information technology services provider’s stock, valued at approximately $80,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Wipro by 92.0% during the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock valued at $82,692,000 after purchasing an additional 11,196,013 shares during the period. State Street Corp boosted its position 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 buying an additional 87,682 shares during the period. Fisher Asset Management LLC grew its holdings in 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 acquiring an additional 3,722,115 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Wipro by 208.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider’s stock valued at $17,592,000 after acquiring an additional 3,359,066 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Wipro by 147.1% during the fourth 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 acquiring an additional 2,120,454 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WIT. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Wipro Stock Performance

Shares of WIT opened at $3.04 on Friday. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The company has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $4.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market capitalization of $31.74 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share 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%. On average, analysts anticipate that Wipro Limited will post 0.14 EPS 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.