Quadrant Capital Group LLC Buys 409,873 Shares of Wipro Limited (NYSE:WIT)

Quadrant Capital Group LLC raised its stake in shares of Wipro Limited (NYSE:WIT) by 104.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 803,134 shares of the information technology services provider’s stock after purchasing an additional 409,873 shares during the quarter. Quadrant Capital Group LLC’s holdings in Wipro were worth $2,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock worth $82,692,000 after acquiring an additional 11,196,013 shares in the last quarter. State Street Corp increased its position in shares of Wipro by 0.8% during the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after purchasing an additional 87,682 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock valued at $34,280,000 after buying an additional 6,195,561 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Wipro by 41.5% in the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock worth $30,956,000 after buying an additional 2,566,388 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Wipro by 97.9% in 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. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Down 4.1 %

Shares of Wipro stock opened at $2.80 on Friday. The company’s 50 day moving average price is $3.35 and its 200-day moving average price is $4.80. 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 stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Equities research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

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