Schroder Investment Management Group Grows Stock Holdings in Wipro Limited (NYSE:WIT)

Schroder Investment Management Group grew its stake in Wipro Limited (NYSE:WIT) by 177.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,683,559 shares of the information technology services provider’s stock after acquiring an additional 6,195,561 shares during the quarter. Schroder Investment Management Group’s holdings in Wipro were worth $34,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WIT. Ridgewood Investments LLC boosted its stake in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in shares of Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC acquired a new stake in Wipro during the fourth quarter worth about $29,000. Farther Finance Advisors LLC raised its stake in Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC purchased a new stake in shares of Wipro in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Ratings Changes

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

Wipro Stock Performance

Shares of WIT stock opened at $3.07 on Wednesday. Wipro Limited has a one year low of $2.55 and a one 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’s 50 day moving average price is $3.40 and its 200-day moving average price is $4.87. The firm has a market cap of $32.05 billion, a P/E ratio of 21.14, a P/E/G ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, 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.