Dimensional Fund Advisors LP Boosts Stake in Wipro Limited (NYSE:WIT)

Dimensional Fund Advisors LP lifted its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 115.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,843,118 shares of the information technology services provider's stock after purchasing an additional 988,042 shares during the period. Dimensional Fund Advisors LP's holdings in Wipro were worth $6,525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WIT. Bell Investment Advisors Inc increased its holdings in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after buying an additional 3,631 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Wipro during the 4th quarter worth approximately $29,000. Farther Finance Advisors LLC raised its holdings in shares of Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 4,851 shares during the period. Freestone Capital Holdings LLC bought a new stake in shares of Wipro in the 4th quarter worth approximately $36,000. Finally, KLP Kapitalforvaltning AS bought a new position in Wipro during the fourth quarter valued at $37,000. 2.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Wipro Stock Performance

Shares of NYSE:WIT traded down $0.02 during trading on Wednesday, hitting $2.97. 2,968,813 shares of the company were exchanged, compared to its average volume of 5,059,412. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The stock has a 50 day moving average of $2.94 and a 200 day moving average of $4.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market cap of $31.07 billion, a PE ratio of 20.48, a P/E/G ratio of 3.08 and a beta of 1.03.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.04. The business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, equities research analysts predict that Wipro Limited will post 0.14 EPS for the current 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.