Dimensional Fund Advisors LP Has $6.53 Million Stake in Wipro Limited (NYSE:WIT)

Dimensional Fund Advisors LP lifted its stake in shares of Wipro Limited (NYSE:WIT) by 115.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,843,118 shares of the information technology services provider’s stock after acquiring an additional 988,042 shares during the period. Dimensional Fund Advisors LP’s holdings in Wipro were worth $6,525,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased 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 purchasing an additional 11,196,013 shares in the last quarter. Schroder Investment Management Group increased its position in Wipro by 177.6% in the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock valued at $34,280,000 after buying an additional 6,195,561 shares in the last quarter. Marshall Wace LLP acquired a new position in Wipro during the 4th quarter worth approximately $20,008,000. Fisher Asset Management LLC raised its stake in Wipro by 97.9% during the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after buying an additional 3,722,115 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Wipro in the fourth quarter worth approximately $12,795,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of WIT opened at $2.82 on Monday. The firm has a market capitalization of $29.50 billion, a P/E ratio of 19.45, a P/E/G ratio of 3.08 and a beta of 1.03. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The stock has a 50 day moving average price of $2.95 and a two-hundred day moving average price of $4.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT) last announced 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. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Wipro Company 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.