Invesco Ltd. Boosts Stock Position in Wipro Limited (NYSE:WIT)

Invesco Ltd. grew its position in Wipro Limited (NYSE:WIT) by 68.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,023 shares of the information technology services provider’s stock after acquiring an additional 135,766 shares during the quarter. Invesco Ltd.’s holdings in Wipro were worth $1,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in Wipro by 92.6% in the 4th quarter. Bank of Montreal Can now owns 60,587 shares of the information technology services provider’s stock valued at $214,000 after acquiring an additional 29,126 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Wipro by 159.3% in the 4th quarter. Cerity Partners LLC now owns 593,904 shares of the information technology services provider’s stock worth $2,278,000 after purchasing an additional 364,900 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Wipro by 104.2% during the fourth quarter. Quadrant Capital Group LLC now owns 803,134 shares of the information technology services provider’s stock valued at $2,843,000 after purchasing an additional 409,873 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Wipro during the fourth quarter worth approximately $516,000. Finally, Envestnet Asset Management Inc. acquired a new position in Wipro in the fourth quarter worth approximately $56,000. 2.36% of the stock is currently owned by institutional investors.

Wipro Stock Performance

NYSE WIT opened at $2.86 on Friday. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. 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 firm has a market cap of $29.91 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.08 and a beta of 0.96. The stock’s 50-day moving average is $3.00 and its 200-day moving average is $4.30.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. Sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WIT has been the topic of several recent analyst reports. Jefferies Financial Group lowered Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wipro presently has an average rating of “Hold”.

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.