Sunpointe LLC Purchases Shares of 13,214 Wipro Limited (NYSE:WIT)

Sunpointe LLC purchased a new stake in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,214 shares of the information technology services provider’s stock, valued at approximately $47,000.

A number of other large investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of 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 purchasing an additional 87,682 shares during the period. Fisher Asset Management LLC lifted its position in shares of Wipro by 72.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider’s stock valued at $24,638,000 after buying an additional 1,593,619 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Wipro by 147.1% during the 4th 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 buying an additional 2,120,454 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Wipro by 84.6% during the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock valued at $12,394,000 after buying an additional 1,604,356 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Wipro by 116.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock valued at $10,435,000 after buying an additional 867,516 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wipro Stock Down 0.7 %

NYSE WIT opened at $3.65 on Friday. The stock’s 50 day moving average is $3.60 and its 200 day moving average is $5.46. 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 stock has a market cap of $38.12 billion, a PE ratio of 25.14, a P/E/G ratio of 3.11 and a beta of 0.91.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Research analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on WIT. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. One investment 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. According to data from MarketBeat.com, the stock has an average 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.