Natural Investments LLC Buys New Stake in Wipro Limited (NYSE:WIT)

Natural Investments LLC bought a new stake in shares of Wipro Limited (NYSE:WIT) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,567 shares of the information technology services provider’s stock, valued at approximately $132,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Wipro by 0.8% during the third quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after acquiring an additional 87,682 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock valued at $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake 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 worth $12,610,000 after purchasing an additional 2,120,454 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Wipro by 84.6% during the fourth quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock worth $12,394,000 after buying an additional 1,604,356 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wipro by 116.8% in the third 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 during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WIT. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, HSBC raised 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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Wipro Price Performance

Wipro stock opened at $3.09 on Thursday. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a 50 day moving average price of $3.51 and a 200 day moving average price of $5.20. The company has a market cap of $32.26 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last announced its quarterly earnings data 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%. Sell-side analysts predict that Wipro Limited will post 0.14 earnings per share 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.