Natixis Advisors LLC Raises Stock Position in Wipro Limited (NYSE:WIT)

Natixis Advisors LLC grew its stake in shares of Wipro Limited (NYSE:WIT) by 109.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 336,727 shares of the information technology services provider’s stock after purchasing an additional 175,822 shares during the period. Natixis Advisors LLC’s holdings in Wipro were worth $1,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vestcor Inc boosted its position in Wipro by 62.2% during the fourth quarter. Vestcor Inc now owns 1,025,060 shares of the information technology services provider’s stock worth $3,629,000 after purchasing an additional 393,258 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Wipro by 208.6% in the 4th 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 in the last quarter. Farther Finance Advisors LLC grew its stake in Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 4,851 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Wipro by 92.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 99,687 shares of the information technology services provider’s stock valued at $353,000 after acquiring an additional 47,788 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Wipro by 101.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 381,476 shares of the information technology services provider’s stock worth $1,350,000 after acquiring an additional 191,725 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

WIT has been the topic of several research reports. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Wipro Price Performance

Wipro stock opened at $3.15 on Wednesday. The firm’s 50-day moving average is $3.43 and its two-hundred day moving average is $4.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $32.94 billion, a P/E ratio of 21.73, 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 announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Equities analysts predict that Wipro Limited will post 0.14 earnings per share for the current 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.