Public Employees Retirement System of Ohio Has $1 Million Stake in Wipro Limited (NYSE:WIT)

Public Employees Retirement System of Ohio lifted its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 163.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,234 shares of the information technology services provider's stock after acquiring an additional 175,833 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Wipro were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc raised its stake 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 valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC purchased a new position in Wipro in the fourth quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in shares of Wipro by 148.3% in the fourth 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 during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Wipro during the fourth quarter worth about $35,000. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Wipro during the fourth quarter worth $36,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Wipro Stock Up 0.7%

Wipro stock traded up $0.02 during midday trading on Friday, hitting $2.88. The stock had a trading volume of 2,914,931 shares, compared to its average volume of 4,990,514. Wipro Limited has a 12 month low of $2.63 and a 12 month high of $3.79. The stock has a market cap of $30.13 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.08 and a beta of 1.02. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average price of $2.86 and a 200 day moving average price of $3.62.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. Research analysts predict that Wipro Limited will post 0.14 EPS for the current year.

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.