Man Group plc Buys New Shares in Wipro Limited (NYSE:WIT)

Man Group plc bought a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 492,278 shares of the information technology services provider's stock, valued at approximately $1,743,000.

A number of other large investors have also added to or reduced their stakes in WIT. Bell Investment Advisors Inc raised its stake in Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Wipro during the 4th quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in shares of Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after buying an additional 4,851 shares in the last quarter. Freestone Capital Holdings LLC acquired a new position in shares of Wipro during the 4th quarter worth $36,000. Finally, Callan Family Office LLC acquired a new position in Wipro in the 4th quarter worth about $37,000. Institutional investors own 2.36% of the company's stock.

Wipro Stock Up 1.6%

Wipro stock traded up $0.05 during midday trading on Thursday, hitting $2.91. 480,559 shares of the stock were exchanged, compared to its average volume of 5,794,495. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The stock has a market capitalization of $30.39 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The business's 50-day moving average price is $2.90 and its 200-day moving average price is $3.82. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Wipro Company 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.