Quantinno Capital Management LP Boosts Position in Wipro Limited (NYSE:WIT)

Quantinno Capital Management LP lifted its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 125.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,689 shares of the information technology services provider's stock after purchasing an additional 136,329 shares during the quarter. Quantinno Capital Management LP's holdings in Wipro were worth $866,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc boosted its holdings in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new stake in Wipro in the fourth quarter worth $29,000. Farther Finance Advisors LLC boosted its holdings in 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 acquiring an additional 4,851 shares in the last quarter. Freestone Capital Holdings LLC bought a new stake in Wipro in the fourth quarter worth $36,000. Finally, Callan Family Office LLC bought a new stake in Wipro in the fourth quarter worth $37,000. 2.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WIT shares. Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Two investment 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Wipro Stock Performance

Shares of NYSE:WIT traded up $0.05 during midday trading on Thursday, reaching $2.91. 515,847 shares of the company's stock traded hands, compared to its average volume of 5,022,548. The company has a market cap of $30.39 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The stock has a 50 day moving average of $2.90 and a 200 day moving average of $3.82.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate 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 anticipate that Wipro Limited will post 0.14 EPS for the current fiscal 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.