Sequoia Financial Advisors LLC Raises Stock Holdings in Wipro Limited (NYSE:WIT)

Sequoia Financial Advisors LLC increased its holdings in shares of Wipro Limited (NYSE:WIT) by 101.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 381,476 shares of the information technology services provider’s stock after buying an additional 191,725 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Wipro were worth $1,350,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WIT. Fisher Asset Management LLC boosted its stake in shares of Wipro by 97.9% during the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock valued at $26,636,000 after purchasing an additional 3,722,115 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Wipro by 147.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock valued at $12,610,000 after buying an additional 2,120,454 shares in the last quarter. Rhumbline Advisers boosted its position in Wipro by 84.6% in the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock valued at $12,394,000 after buying an additional 1,604,356 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Wipro by 116.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock worth $10,435,000 after acquiring an additional 867,516 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Wipro during the fourth quarter worth approximately $1,667,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Up 1.5 %

Wipro stock opened at $3.08 on Friday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market cap of $32.16 billion, a P/E ratio of 21.21, a P/E/G ratio of 3.08 and a beta of 0.94. The business has a fifty day moving average of $3.49 and a two-hundred day moving average of $5.15. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company 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.