Millennium Management LLC Purchases 423,840 Shares of Wipro Limited (NYSE:WIT)

Millennium Management LLC increased its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,175,166 shares of the information technology services provider's stock after acquiring an additional 423,840 shares during the quarter. Millennium Management LLC's holdings in Wipro were worth $14,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Perigon Wealth Management LLC bought a new stake in shares of Wipro in the fourth quarter worth about $61,000. HighTower Advisors LLC boosted its position in shares of Wipro by 292.0% during the 4th quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock valued at $221,000 after acquiring an additional 46,432 shares during the last quarter. Barclays PLC purchased a new position in shares of Wipro in the fourth quarter valued at $461,000. Northern Trust Corp increased its position in Wipro by 172.8% in the fourth quarter. Northern Trust Corp now owns 2,679,066 shares of the information technology services provider's stock worth $9,484,000 after purchasing an additional 1,697,118 shares during the last quarter. Finally, Tobam purchased a new stake in Wipro during the fourth quarter valued at $261,000. 2.36% of the stock is currently owned by institutional investors.

Wipro Trading Up 1.6%

Wipro stock traded up $0.05 during mid-day trading on Tuesday, hitting $2.91. The company's stock had a trading volume of 1,254,533 shares, compared to its average volume of 5,830,746. 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 company has a 50 day moving average of $2.90 and a 200-day moving average of $3.83. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The stock has a market cap of $30.39 billion, a PE ratio of 20.04, a P/E/G ratio of 3.08 and a beta of 1.03.

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 analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. On average, research analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.