Blue Trust Inc. Grows Position in Wipro Limited (NYSE:WIT)

Blue Trust Inc. grew its stake in Wipro Limited (NYSE:WIT) by 72.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,287 shares of the information technology services provider’s stock after purchasing an additional 132,279 shares during the period. Blue Trust Inc.’s holdings in Wipro were worth $1,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Wipro by 38.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 774,867 shares of the information technology services provider’s stock valued at $4,727,000 after purchasing an additional 214,712 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Wipro during the 2nd quarter worth about $737,000. Xponance Inc. increased its position in shares of Wipro by 21.7% during the 2nd quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 2,832 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Wipro by 143.4% during the 2nd quarter. Squarepoint Ops LLC now owns 821,228 shares of the information technology services provider’s stock worth $5,009,000 after purchasing an additional 483,893 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Wipro by 12.9% during the 2nd quarter. AQR Capital Management LLC now owns 694,610 shares of the information technology services provider’s stock worth $4,223,000 after purchasing an additional 79,431 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of Wipro stock opened at $3.65 on Wednesday. The business has a 50-day moving average of $4.68 and a 200 day moving average of $5.78. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The stock has a market capitalization of $38.09 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. As a group, sell-side analysts forecast that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

WIT has been the subject of a number of recent analyst reports. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Investec cut Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wipro presently has an average rating of “Moderate Buy”.

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.