Northern Trust Corp Raises Stake in Wipro Limited (NYSE:WIT)

Northern Trust Corp increased its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 172.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,679,066 shares of the information technology services provider's stock after buying an additional 1,697,118 shares during the period. Northern Trust Corp's holdings in Wipro were worth $9,484,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares 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 worth $26,000 after buying an additional 3,631 shares during the last quarter. Sierra Ocean LLC bought a new position in Wipro during the fourth quarter worth $29,000. Farther Finance Advisors LLC raised its stake in Wipro by 148.3% during 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. Freestone Capital Holdings LLC bought a new position in Wipro during the fourth quarter worth $36,000. Finally, Callan Family Office LLC bought a new position in Wipro during the fourth quarter worth $37,000. Institutional investors own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WIT shares. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Two equities research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold".

Wipro Stock Down 1.4%

Shares of NYSE:WIT traded down $0.04 during midday trading on Tuesday, hitting $2.91. 2,443,559 shares of the company's stock were exchanged, compared to its average volume of 5,051,441. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a 50 day moving average price of $2.92 and a 200-day moving average price of $3.96. The company has a market cap of $30.44 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. 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 posted its 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. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, sell-side analysts anticipate that Wipro Limited will post 0.14 EPS 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.