Man Group plc Takes Position in Wipro Limited (NYSE:WIT)

Man Group plc purchased a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 492,278 shares of the information technology services provider's stock, valued at approximately $1,743,000.

Several other large investors have also recently made changes to their positions in WIT. Vanguard Group Inc. increased its stake in shares of Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock worth $82,692,000 after buying an additional 11,196,013 shares during the period. BNP Paribas Financial Markets boosted its stake in Wipro by 36.4% in the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock worth $55,925,000 after purchasing an additional 4,215,981 shares in the last quarter. Schroder Investment Management Group boosted its stake in 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 worth $34,280,000 after purchasing an additional 6,195,561 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 worth $30,956,000 after buying an additional 2,566,388 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Wipro by 97.9% during 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. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WIT shares. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Wipro Trading Down 0.5%

WIT stock traded down $0.02 during mid-day trading on Wednesday, hitting $2.89. 4,082,487 shares of the company were exchanged, compared to its average volume of 5,818,360. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $30.18 billion, a P/E ratio of 19.83, a PEG ratio of 3.08 and a beta of 1.03. The business has a fifty day simple moving average of $2.90 and a 200-day simple moving average of $3.82. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last issued 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 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, equities research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.