Wipro Limited (NYSE:WIT) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in Wipro Limited (NYSE:WIT - Free Report) by 210.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,824,878 shares of the information technology services provider's stock after buying an additional 1,237,734 shares during the period. Lazard Asset Management LLC's holdings in Wipro were worth $6,460,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Bell Investment Advisors Inc increased its stake in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC acquired a new position in Wipro in the fourth quarter valued at $29,000. Farther Finance Advisors LLC boosted its holdings 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 valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Freestone Capital Holdings LLC purchased a new stake in shares of Wipro in the fourth quarter valued at about $36,000. Finally, Callan Family Office LLC purchased a new stake in shares of Wipro in the fourth quarter valued at about $37,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold".

Wipro Price Performance

WIT traded down $0.03 on Tuesday, hitting $2.93. 1,484,194 shares of the company were exchanged, compared to its average volume of 5,050,615. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The business's fifty day moving average is $2.92 and its 200 day moving average is $3.96. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The firm has a market capitalization of $30.60 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03.

Wipro (NYSE:WIT - Get Free Report) last issued its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 EPS 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.