Ethic Inc. Has $3.95 Million Stock Holdings in Wipro Limited (NYSE:WIT)

Ethic Inc. increased its stake in Wipro Limited (NYSE:WIT - Free Report) by 116.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,116,996 shares of the information technology services provider's stock after purchasing an additional 600,153 shares during the period. Ethic Inc.'s holdings in Wipro were worth $3,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WIT. Ridgewood Investments LLC boosted its stake in 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 during the period. Bell Investment Advisors Inc lifted its position in Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after buying an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new stake in Wipro during the 4th quarter worth about $29,000. Farther Finance Advisors LLC lifted its position in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after buying an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC bought a new stake in Wipro during the 4th quarter worth about $36,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WIT has been the topic of a number of research analyst reports. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two 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 data from MarketBeat, Wipro presently has an average rating of "Hold".

Wipro Price Performance

NYSE:WIT traded down $0.02 on Wednesday, hitting $2.97. The company had a trading volume of 2,968,813 shares, compared to its average volume of 5,063,385. The stock has a market capitalization of $31.07 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.08 and a beta of 1.03. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $2.94 and a two-hundred day moving average of $4.08. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $2.62 billion during 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%. On average, research analysts anticipate that Wipro Limited will post 0.14 earnings per share 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.