Ballentine Partners LLC Grows Position in Wipro Limited (NYSE:WIT)

Ballentine Partners LLC raised its position in Wipro Limited (NYSE:WIT) by 112.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 504,493 shares of the information technology services provider’s stock after buying an additional 267,036 shares during the quarter. Ballentine Partners LLC’s holdings in Wipro were worth $1,786,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Wipro by 0.8% in the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock worth $70,157,000 after purchasing an additional 87,682 shares during the period. Millennium Management LLC raised its holdings in shares of Wipro by 67.6% in the 2nd quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock worth $34,298,000 after purchasing an additional 2,267,995 shares during the period. Fisher Asset Management LLC raised its holdings 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 during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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. Finally, Creative Planning raised its holdings in shares of Wipro by 24.6% during the 3rd quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider’s stock valued at $8,666,000 after buying an additional 263,925 shares during the period. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WIT has been the topic of several analyst reports. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wipro presently has an average rating of “Moderate Buy”.

Wipro Price Performance

WIT stock opened at $3.52 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.75. The stock’s 50 day moving average is $4.99 and its two-hundred day moving average is $5.87. The company has a market capitalization of $36.73 billion, a PE ratio of 24.24, a P/E/G ratio of 4.44 and a beta of 0.91.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. Analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Company 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.