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

Causeway Capital Management LLC boosted its position in Wipro Limited (NYSE:WIT - Free Report) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 488,806 shares of the information technology services provider's stock after purchasing an additional 244,403 shares during the quarter. Causeway Capital Management LLC's holdings in Wipro were worth $1,730,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WIT. Vanguard Group Inc. raised its position 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. State Street Corp raised its holdings in shares of Wipro by 0.8% in the third quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider's stock worth $70,157,000 after buying an additional 87,682 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Wipro by 177.6% during the fourth quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock worth $34,280,000 after buying an additional 6,195,561 shares during the period. JPMorgan Chase & Co. increased its position in shares of 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 valued at $30,956,000 after acquiring an additional 2,566,388 shares during the period. Finally, Fisher Asset Management LLC raised its stake in 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 worth $26,636,000 after acquiring an additional 3,722,115 shares during the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WIT shares. StockNews.com lowered Wipro from a "buy" rating to a "hold" rating in a report on Friday. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold".

Wipro Stock Performance

WIT stock traded down $0.03 during trading on Friday, hitting $2.71. 5,394,346 shares of the company traded hands, compared to its average volume of 5,057,503. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a market cap of $28.29 billion, a PE ratio of 18.66, a P/E/G ratio of 3.08 and a beta of 0.96. The stock's 50-day simple moving average is $3.14 and its 200 day simple moving average is $4.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

Wipro (NYSE:WIT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, equities analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.