Wipro Limited (NYSE:WIT) Stake Increased by Xponance Inc.

Xponance Inc. raised its stake in shares of Wipro Limited (NYSE:WIT) by 110.3% during the fourth quarter, HoldingsChannel reports. The fund owned 37,566 shares of the information technology services provider’s stock after acquiring an additional 19,700 shares during the quarter. Xponance Inc.’s holdings in Wipro were worth $133,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Boston Partners acquired a new stake in shares of Wipro in the 4th quarter valued at about $3,497,000. Evoke Wealth LLC raised its stake in Wipro by 100.5% during the fourth quarter. Evoke Wealth LLC now owns 21,184 shares of the information technology services provider’s stock valued at $75,000 after buying an additional 10,618 shares in the last quarter. PDS Planning Inc lifted its holdings in Wipro by 96.1% during the 4th quarter. PDS Planning Inc now owns 181,096 shares of the information technology services provider’s stock worth $641,000 after buying an additional 88,744 shares during the last quarter. Signaturefd LLC grew its position in shares of Wipro by 97.7% in the 4th quarter. Signaturefd LLC now owns 591,357 shares of the information technology services provider’s stock worth $2,093,000 after acquiring an additional 292,229 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Wipro by 98.6% in the 4th quarter. Corient Private Wealth LLC now owns 599,769 shares of the information technology services provider’s stock valued at $2,123,000 after acquiring an additional 297,756 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Wipro Trading Down 3.0 %

NYSE:WIT opened at $3.04 on Friday. The firm has a market capitalization of $31.74 billion, a P/E ratio of 20.93, a P/E/G ratio of 3.08 and a beta of 0.94. The business has a 50 day simple moving average of $3.41 and a 200 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. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79.

Wipro (NYSE:WIT) last announced its quarterly earnings results 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 15.46%. Equities research analysts predict that Wipro Limited will post 0.14 EPS for the current 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.