Evoke Wealth LLC Buys 10,618 Shares of Wipro Limited (NYSE:WIT)

Evoke Wealth LLC boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 100.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,184 shares of the information technology services provider’s stock after acquiring an additional 10,618 shares during the quarter. Evoke Wealth LLC’s holdings in Wipro were worth $75,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in 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 worth $70,157,000 after buying an additional 87,682 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Wipro by 97.9% during the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after buying an additional 3,722,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Wipro by 208.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider’s stock worth $17,592,000 after buying an additional 3,359,066 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Wipro by 147.1% during 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 buying an additional 2,120,454 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in 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. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HSBC upgraded shares of 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 analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Wipro Stock Up 2.5 %

Shares of NYSE:WIT opened at $3.08 on Thursday. Wipro Limited has a 52 week low of $2.55 and a 52 week 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 company’s fifty day moving average is $3.46 and its 200-day moving average is $5.08. The company has a market capitalization of $32.16 billion, a PE ratio of 21.21, a P/E/G ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last issued its earnings results on Friday, January 17th. The information technology services provider reported $0.04 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 earnings per share for the current fiscal 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.