Wellington Management Group LLP Purchases 451,820 Shares of Wipro Limited (NYSE:WIT)

Wellington Management Group LLP lifted its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 34.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,769,600 shares of the information technology services provider's stock after acquiring an additional 451,820 shares during the quarter. Wellington Management Group LLP's holdings in Wipro were worth $6,264,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Wipro by 92.0% during the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock valued at $82,692,000 after purchasing an additional 11,196,013 shares during the period. Schroder Investment Management Group boosted its holdings 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 valued at $34,280,000 after purchasing an additional 6,195,561 shares during the period. Marshall Wace LLP purchased a new position in shares of Wipro during the 4th quarter valued at $20,008,000. BNP Paribas Financial Markets increased its holdings in shares of Wipro by 36.4% in the fourth 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 during the period. Finally, Fisher Asset Management LLC raised its position in shares of Wipro by 97.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock worth $26,636,000 after buying an additional 3,722,115 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Wipro Price Performance

NYSE:WIT traded up $0.02 during midday trading on Thursday, hitting $2.86. The company had a trading volume of 3,670,946 shares, compared to its average volume of 5,039,375. The company has a market capitalization of $29.86 billion, a PE ratio of 19.69, a P/E/G ratio of 3.08 and a beta of 1.03. 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 Limited has a 52-week low of $2.63 and a 52-week high of $3.79. The stock's fifty day moving average price is $2.87 and its 200-day moving average price is $3.68.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. As a group, research analysts expect that Wipro Limited will post 0.14 earnings per share 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.