Invesco Ltd. Boosts Position in Wipro Limited (NYSE:WIT)

Invesco Ltd. raised its stake in Wipro Limited (NYSE:WIT - Free Report) by 68.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 335,023 shares of the information technology services provider's stock after buying an additional 135,766 shares during the period. Invesco Ltd.'s holdings in Wipro were worth $1,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC lifted its holdings 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 worth $25,000 after purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc increased its position 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 acquiring an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new position in Wipro in the 4th quarter valued at about $29,000. Farther Finance Advisors LLC raised its stake in shares of Wipro by 148.3% in 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 during the last quarter. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Wipro during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on WIT shares. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. StockNews.com upgraded 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 assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Wipro Stock Performance

WIT stock traded down $0.01 during midday trading on Wednesday, reaching $2.89. 5,444,367 shares of the company's stock traded hands, compared to its average volume of 5,019,193. The firm has a market capitalization of $30.17 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The company has a 50-day moving average price of $2.96 and a two-hundred day moving average price of $4.20. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT - Get Free Report) last announced 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 firm 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, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current 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.