Wipro Limited (NYSE:WIT) Shares Acquired by Mariner LLC

Mariner LLC raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 107.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 542,804 shares of the information technology services provider's stock after purchasing an additional 281,125 shares during the period. Mariner LLC's holdings in Wipro were worth $1,922,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WIT. Vanguard Group Inc. lifted its stake in Wipro by 92.0% during the 4th quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock valued at $82,692,000 after acquiring an additional 11,196,013 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock valued at $34,280,000 after buying an additional 6,195,561 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock worth $26,636,000 after buying an additional 3,722,115 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Wipro during the fourth quarter valued at $12,795,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Wipro by 208.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider's stock worth $17,592,000 after buying an additional 3,359,066 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold".

Wipro Stock Up 0.5 %

WIT stock traded up $0.02 during trading on Tuesday, reaching $2.86. 1,584,861 shares of the company traded hands, compared to its average volume of 5,046,267. The company has a market capitalization of $29.86 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The business has a 50 day simple moving average of $3.04 and a 200 day simple moving average of $4.35. Wipro Limited has a 12 month low of $2.55 and a 12 month 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 data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $2.62 billion during 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%. On average, equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal 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.