Team Hewins LLC Takes $168,000 Position in Wipro Limited (NYSE:WIT)

Team Hewins LLC purchased a new stake in shares of Wipro Limited (NYSE:WIT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,246 shares of the information technology services provider’s stock, valued at approximately $168,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Wipro by 4.6% during the third quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock valued at $60,368,000 after purchasing an additional 553,433 shares during the period. Acadian Asset Management LLC raised its position in shares of Wipro by 50.1% during the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider’s stock worth $32,837,000 after purchasing an additional 2,265,859 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Wipro by 112.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock valued at $20,734,000 after purchasing an additional 1,972,425 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Wipro by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 2,312,160 shares of the information technology services provider’s stock valued at $12,879,000 after purchasing an additional 83,519 shares during the period. Finally, Rhumbline Advisers increased its stake in Wipro by 4.7% during the 3rd quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock worth $9,343,000 after purchasing an additional 86,226 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Friday. Three research analysts have rated the stock with a sell rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.30.

Wipro Stock Down 0.2 %

WIT stock opened at $5.45 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 2.57. The stock has a market capitalization of $28.44 billion, a P/E ratio of 21.80, a P/E/G ratio of 3.75 and a beta of 0.86. Wipro Limited has a fifty-two week low of $4.48 and a fifty-two week high of $6.45. The business has a 50-day moving average of $5.53 and a 200-day moving average of $5.53.

Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, April 19th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Wipro had a return on equity of 15.60% and a net margin of 12.29%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. On average, sell-side analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Wipro Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.