Wipro Limited (NYSE:WIT) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 172.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,679,066 shares of the information technology services provider’s stock after buying an additional 1,697,118 shares during the period. Northern Trust Corp’s holdings in Wipro were worth $9,484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bell Investment Advisors Inc grew its holdings in shares of Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares during the last quarter. Sierra Ocean LLC bought a new position in Wipro during the 4th quarter worth $29,000. Farther Finance Advisors LLC grew its stake in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after buying an additional 4,851 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in Wipro in the fourth quarter worth $36,000. Finally, Callan Family Office LLC bought a new stake in Wipro in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

WIT has been the topic of a number of analyst reports. StockNews.com raised shares of 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 assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wipro has an average rating of “Hold”.

Wipro Stock Performance

Shares of WIT opened at $2.96 on Friday. The firm has a market capitalization of $30.91 billion, a PE ratio of 20.38, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $2.92 and a 200 day moving average price of $4.00. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

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

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.