Wipro Limited (NYSE:WIT) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in Wipro Limited (NYSE:WIT) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,312,160 shares of the information technology services provider’s stock after purchasing an additional 83,519 shares during the quarter. Fisher Asset Management LLC’s holdings in Wipro were worth $12,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaQ Advisors LLC acquired a new position in Wipro in the 3rd quarter worth approximately $48,000. Marks Group Wealth Management Inc purchased a new stake in shares of Wipro in the 3rd quarter valued at $49,000. Keel Point LLC purchased a new stake in shares of Wipro in the 3rd quarter valued at $54,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Wipro in the third quarter worth $56,000. Finally, Xponance Inc. purchased a new position in shares of Wipro during the third quarter worth $63,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BNP Paribas began coverage on shares of Wipro in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price target on the stock. Wedbush upped their target price on Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 16th. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. Based on data from MarketBeat.com, Wipro presently has an average rating of “Reduce” and an average target price of $5.05.

Wipro Price Performance

Shares of Wipro stock opened at $5.40 on Monday. The firm has a market cap of $28.18 billion, a PE ratio of 21.60, a P/E/G ratio of 2.24 and a beta of 0.86. Wipro Limited has a twelve month low of $4.48 and a twelve month high of $6.45. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $5.75 and a 200 day moving average price of $5.44.

Wipro Company Profile

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.