First Trust Advisors LP Grows Stake in Wipro Limited (NYSE:WIT)

First Trust Advisors LP grew its position in Wipro Limited (NYSE:WIT - Free Report) by 102.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,292,634 shares of the information technology services provider's stock after buying an additional 1,159,397 shares during the period. First Trust Advisors LP's holdings in Wipro were worth $8,116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Wipro by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock worth $233,000 after buying an additional 2,951 shares in the last quarter. DGS Capital Management LLC grew its stake in shares of Wipro by 4.5% in the third quarter. DGS Capital Management LLC now owns 195,441 shares of the information technology services provider's stock worth $1,266,000 after acquiring an additional 8,360 shares during the period. GAMMA Investing LLC raised its holdings in shares of Wipro by 161.3% during the fourth quarter. GAMMA Investing LLC now owns 23,099 shares of the information technology services provider's stock valued at $82,000 after purchasing an additional 14,258 shares during the last quarter. Diversified Trust Co lifted its position in Wipro by 361.4% during the fourth quarter. Diversified Trust Co now owns 89,056 shares of the information technology services provider's stock valued at $315,000 after purchasing an additional 69,755 shares during the period. Finally, Fulton Bank N.A. purchased a new stake in Wipro in the fourth quarter worth approximately $44,000. Institutional investors own 2.36% of the company's stock.

Wipro Stock Performance

Shares of WIT stock traded up $0.01 during trading hours on Monday, reaching $2.91. 260,595 shares of the company traded hands, compared to its average volume of 4,998,480. The firm has a 50-day moving average price of $2.99 and a 200 day moving average price of $4.25. The company has a market cap of $30.38 billion, a P/E ratio of 20.04, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. 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 issued its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $2.62 billion for 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%. As a group, sell-side analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. StockNews.com raised shares of 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 issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wipro currently has a consensus rating of "Hold".

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.