Causeway Capital Management LLC Increases Holdings in Wipro Limited (NYSE:WIT)

Causeway Capital Management LLC lifted its position in Wipro Limited (NYSE:WIT) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,806 shares of the information technology services provider’s stock after buying an additional 244,403 shares during the period. Causeway Capital Management LLC’s holdings in Wipro were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Perigon Wealth Management LLC bought a new stake in shares of Wipro during the 4th quarter valued at about $61,000. HighTower Advisors LLC increased its holdings in Wipro by 292.0% during the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider’s stock valued at $221,000 after buying an additional 46,432 shares during the last quarter. Tobam bought a new position in Wipro in the fourth quarter worth approximately $261,000. Van ECK Associates Corp boosted its stake in shares of Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock worth $1,235,000 after acquiring an additional 165,076 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock valued at $307,000 after acquiring an additional 41,766 shares during the period. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.2 %

Shares of Wipro stock opened at $2.84 on Monday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market cap of $29.65 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.08 and a beta of 0.96. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The business has a 50-day moving average price of $3.23 and a 200-day moving average price of $4.62.

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, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WIT has been the topic of several recent research reports. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Finally, Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday, April 8th. Two research analysts have 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Wipro 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.