NewEdge Advisors LLC Has $512,000 Holdings in Wipro Limited (NYSE:WIT)

NewEdge Advisors LLC lifted its holdings in Wipro Limited (NYSE:WIT) by 117.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,735 shares of the information technology services provider’s stock after purchasing an additional 78,188 shares during the period. NewEdge Advisors LLC’s holdings in Wipro were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WIT. Vanguard Group Inc. lifted its stake in shares of Wipro by 92.0% in the 4th quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock valued at $82,692,000 after purchasing an additional 11,196,013 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Wipro by 177.6% in 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 purchasing an additional 6,195,561 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock valued at $26,636,000 after purchasing an additional 3,722,115 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Wipro in the 4th quarter worth $12,795,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 valued at $17,592,000 after buying an additional 3,359,066 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Down 0.4 %

NYSE WIT opened at $2.84 on Monday. The stock has a fifty day moving average of $3.06 and a 200-day moving average of $4.37. The stock has a market capitalization of $29.70 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. 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.

Wipro (NYSE:WIT) last released its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $225.66 billion. On average, equities research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on WIT shares. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.