Vestcor Inc Boosts Stock Position in Wipro Limited (NYSE:WIT)

Vestcor Inc lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 62.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,025,060 shares of the information technology services provider’s stock after buying an additional 393,258 shares during the period. Vestcor Inc’s holdings in Wipro were worth $3,629,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC increased its stake in 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 valued at $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Wipro by 208.6% during 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 purchasing an additional 3,359,066 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Wipro by 147.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock worth $12,610,000 after buying an additional 2,120,454 shares during the period. Rhumbline Advisers raised its position in shares of Wipro by 84.6% in the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock worth $12,394,000 after buying an additional 1,604,356 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Wipro in the 4th quarter worth $1,667,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Wipro Stock Performance

Shares of NYSE WIT opened at $3.04 on Friday. 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 stock has a 50 day simple moving average of $3.50 and a 200-day simple moving average of $5.18. The company has a market cap of $31.74 billion, a PE ratio of 20.93, a P/E/G ratio of 3.08 and a beta of 0.94. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings results 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 15.46% and a net margin of 13.96%. On average, equities research analysts forecast 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.