315,034 Shares in Wipro Limited (NYSE:WIT) Bought by Graham Capital Management L.P.

Graham Capital Management L.P. bought a new position in Wipro Limited (NYSE:WIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 315,034 shares of the information technology services provider's stock, valued at approximately $1,115,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth grew its holdings in Wipro by 208.7% during the 4th quarter. Focus Partners Wealth now owns 58,429 shares of the information technology services provider's stock valued at $207,000 after buying an additional 39,502 shares in the last quarter. Ellevest Inc. purchased a new stake in Wipro during the 4th quarter valued at approximately $58,000. Ethic Inc. grew its holdings in Wipro by 116.1% during the 4th quarter. Ethic Inc. now owns 1,116,996 shares of the information technology services provider's stock valued at $3,954,000 after buying an additional 600,153 shares in the last quarter. Cladis Investment Advisory LLC purchased a new stake in Wipro during the 4th quarter valued at approximately $70,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Wipro by 105.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 204,612 shares of the information technology services provider's stock valued at $724,000 after buying an additional 105,243 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Wipro Price Performance

Shares of NYSE WIT traded down $0.05 during midday trading on Friday, reaching $2.96. 4,048,684 shares of the stock traded hands, compared to its average volume of 5,072,876. 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 market capitalization of $30.91 billion, a PE ratio of 20.38, a P/E/G ratio of 3.08 and a beta of 1.03. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The company's 50 day moving average is $2.92 and its 200 day moving average is $3.99.

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 (EPS) for the quarter, hitting analysts' consensus estimates 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 return on equity of 15.46% and a net margin of 13.96%. On average, equities research analysts anticipate 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.