Tobam Buys New Shares in Wipro Limited (NYSE:WIT)

Tobam acquired a new position in shares of Wipro Limited (NYSE:WIT) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 73,674 shares of the information technology services provider’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WIT. Robeco Institutional Asset Management B.V. lifted its position in shares of Wipro by 147.1% in the fourth 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 in the last quarter. Fisher Asset Management LLC lifted its position in Wipro by 72.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider’s stock worth $24,638,000 after buying an additional 1,593,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 during the period. Ballentine Partners LLC grew its holdings in shares of Wipro by 112.5% during the 4th quarter. Ballentine Partners LLC now owns 504,493 shares of the information technology services provider’s stock valued at $1,786,000 after acquiring an additional 267,036 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Wipro by 24.6% in the third quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider’s stock worth $8,666,000 after acquiring an additional 263,925 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Down 0.8 %

NYSE WIT opened at $3.67 on Friday. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The stock has a market cap of $38.38 billion, a PE ratio of 25.31, a PEG ratio of 3.13 and a beta of 0.91. The firm has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $5.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

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%. On average, research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. One research 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. According to MarketBeat, Wipro has a consensus rating of “Moderate Buy”.

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.