Rhumbline Advisers Increases Position in Wipro Limited (NYSE:WIT)

Rhumbline Advisers increased its stake in shares of Wipro Limited (NYSE:WIT) by 84.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,501,225 shares of the information technology services provider’s stock after acquiring an additional 1,604,356 shares during the quarter. Rhumbline Advisers’ holdings in Wipro were worth $12,394,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Ridgewood Investments LLC lifted its holdings in shares of Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 3,557 shares during the last quarter. Beacon Financial Group purchased a new position in Wipro in the 4th quarter worth about $38,000. Leo Wealth LLC purchased a new position in Wipro during the 4th quarter valued at about $40,000. BOCHK Asset Management Ltd purchased a new position in Wipro during the 4th quarter valued at about $42,000. Finally, PFG Investments LLC purchased a new position in Wipro during the 4th quarter valued at about $43,000. Institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of NYSE WIT opened at $3.49 on Monday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a 50 day simple moving average of $3.60 and a two-hundred day simple moving average of $5.44. The stock has a market cap of $36.44 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 3.08 and a beta of 0.91.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 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 15.46%. As a group, analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

WIT has been the topic of a number of analyst reports. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Wipro 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.