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

First Trust Advisors LP grew its position in Wipro Limited (NYSE:WIT - Free Report) by 102.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,292,634 shares of the information technology services provider's stock after purchasing an additional 1,159,397 shares during the quarter. First Trust Advisors LP's holdings in Wipro were worth $8,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC grew its position in shares of Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after buying an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in shares of 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 purchasing an additional 3,631 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Wipro during the fourth quarter worth about $29,000. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Wipro in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold".

Wipro Stock Performance

Shares of NYSE:WIT traded up $0.04 during trading on Friday, reaching $2.90. The company had a trading volume of 4,549,412 shares, compared to its average volume of 5,027,038. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. 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's fifty day moving average price is $2.99 and its 200 day moving average price is $4.27. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

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