Schroder Investment Management Group raised its position in Wipro Limited (NYSE:WIT) by 59.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,573,069 shares of the information technology services provider’s stock after purchasing an additional 586,542 shares during the period. Schroder Investment Management Group’s holdings in Wipro were worth $8,604,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of WIT. Vanguard Group Inc. grew its position in Wipro by 108.9% in the second quarter. Vanguard Group Inc. now owns 13,490,025 shares of the information technology services provider’s stock valued at $70,148,000 after acquiring an additional 7,030,846 shares in the last quarter. State Street Corp grew its position in shares of Wipro by 131.7% during the second quarter. State Street Corp now owns 5,965,542 shares of the information technology services provider’s stock worth $31,022,000 after buying an additional 3,390,392 shares in the last quarter. Northern Trust Corp grew its position in shares of Wipro by 327.5% during the second quarter. Northern Trust Corp now owns 2,444,172 shares of the information technology services provider’s stock worth $12,709,000 after buying an additional 1,872,402 shares in the last quarter. First Trust Advisors LP grew its position in shares of Wipro by 25.4% during the fourth quarter. First Trust Advisors LP now owns 6,361,649 shares of the information technology services provider’s stock worth $34,798,000 after buying an additional 1,286,771 shares in the last quarter. Finally, Unison Advisors LLC acquired a new stake in shares of Wipro during the fourth quarter worth approximately $1,471,000. 2.54% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Credit Suisse Group downgraded shares of Wipro from a “neutral” rating to a “sell” rating in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Wipro presently has a consensus rating of “Sell” and an average target price of $141.50.
Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, January 19th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Wipro had a net margin of 15.46% and a return on equity of 16.09%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. research analysts expect that Wipro Limited will post 0.27 EPS for the current fiscal year.
The business also recently declared a dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, February 1st were given a dividend of $0.016 per share. The ex-dividend date was Wednesday, January 31st. This represents a dividend yield of 0.00293040293040293%. This is an increase from Wipro’s previous dividend of $0.01. Wipro’s dividend payout ratio (DPR) is presently 11.11%.
ILLEGAL ACTIVITY WARNING: “Schroder Investment Management Group Purchases 586,542 Shares of Wipro Limited (WIT)” was first posted by Ticker Report and is the property of of Ticker Report. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/3231363/schroder-investment-management-group-purchases-586542-shares-of-wipro-limited-wit.html.
Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.
Want to see what other hedge funds are holding WIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wipro Limited (NYSE:WIT).
Receive News & Ratings for Wipro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro and related companies with MarketBeat.com's FREE daily email newsletter.