Bell Investment Advisors Inc Purchases 3,631 Shares of Wipro Limited (NYSE:WIT)

Bell Investment Advisors Inc boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 100.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,262 shares of the information technology services provider’s stock after acquiring an additional 3,631 shares during the period. Bell Investment Advisors Inc’s holdings in Wipro were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its stake in shares of 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 valued at $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings 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 during the period. Rhumbline Advisers boosted its position in Wipro by 84.6% during the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock valued at $12,394,000 after acquiring an additional 1,604,356 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Wipro by 116.8% in 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 acquiring an additional 867,516 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Wipro in the 4th quarter worth $1,667,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WIT. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. One research analyst has 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. Based on data from MarketBeat.com, Wipro currently has a consensus rating of “Moderate Buy”.

Wipro Trading Down 0.2 %

Wipro stock opened at $3.28 on Monday. 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 cap of $34.25 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The stock has a 50-day moving average of $3.53 and a two-hundred day moving average of $5.25. Wipro Limited has a one year low of $2.55 and a one year high of $3.79.

Wipro (NYSE:WIT) last announced its quarterly earnings data 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%. On average, research analysts anticipate that Wipro Limited will post 0.14 EPS 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.