Wellington Management Group LLP Increases Position in Wipro Limited (NYSE:WIT)

Wellington Management Group LLP boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 44.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,866,359 shares of the information technology services provider’s stock after acquiring an additional 570,001 shares during the quarter. Wellington Management Group LLP’s holdings in Wipro were worth $10,396,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in Wipro by 112.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock valued at $20,734,000 after buying an additional 1,972,425 shares during the period. Toroso Investments LLC bought a new position in Wipro in the third quarter worth approximately $5,591,000. Vanguard Group Inc. increased its holdings in Wipro by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock worth $60,368,000 after purchasing an additional 553,433 shares during the period. Deutsche Bank AG raised its position in Wipro by 25.8% during the 3rd quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock valued at $9,238,000 after purchasing an additional 390,947 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of Wipro by 275.1% during the 3rd quarter. Natixis Advisors L.P. now owns 357,956 shares of the information technology services provider’s stock worth $1,733,000 after buying an additional 262,536 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Price Performance

WIT opened at $6.02 on Friday. The firm has a market capitalization of $31.39 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 4.04 and a beta of 0.85. The business’s 50-day moving average is $5.47 and its two-hundred day moving average is $5.66. Wipro Limited has a 1 year low of $4.48 and a 1 year high of $6.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 2.57.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, April 19th. The information technology services provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. Wipro had a net margin of 12.29% and a return on equity of 15.60%. Research analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.30.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.