JPMorgan Chase & Co. Increases Holdings in Wipro Limited (NYSE:WIT)

JPMorgan Chase & Co. increased its stake in Wipro Limited (NYSE:WIT) by 41.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,744,712 shares of the information technology services provider’s stock after buying an additional 2,566,388 shares during the quarter. JPMorgan Chase & Co. owned 0.08% of Wipro worth $30,956,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock valued at $82,692,000 after acquiring an additional 11,196,013 shares during the last quarter. State Street Corp lifted its stake in Wipro by 0.8% in the third quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after purchasing an additional 87,682 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Wipro by 97.9% in 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 last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 valued at $17,592,000 after purchasing an additional 3,359,066 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Wipro by 147.1% in the fourth 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 last quarter. Institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Wipro Stock Performance

Shares of WIT opened at $2.85 on Tuesday. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The stock’s 50-day simple moving average is $3.33 and its 200 day simple moving average is $4.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $29.75 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

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