Aspiring Ventures LLC Takes Position in Wipro Limited (NYSE:WIT)

Aspiring Ventures LLC purchased a new position in Wipro Limited (NYSE:WIT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,408 shares of the information technology services provider’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in Wipro by 67.6% in the second quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock worth $34,298,000 after acquiring an additional 2,267,995 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Wipro by 72.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider’s stock worth $24,638,000 after purchasing an additional 1,593,619 shares during the last quarter. Marshall Wace LLP bought a new position in Wipro in the 2nd quarter worth about $7,994,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Wipro by 116.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock valued at $10,435,000 after purchasing an additional 867,516 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in Wipro by 143.4% during the 2nd quarter. Squarepoint Ops LLC now owns 821,228 shares of the information technology services provider’s stock valued at $5,009,000 after purchasing an additional 483,893 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WIT shares. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Investec downgraded Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Wipro Stock Up 0.7 %

WIT opened at $3.77 on Friday. The stock has a market capitalization of $39.35 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.09 and a beta of 0.91. The firm has a 50 day moving average price of $4.74 and a 200-day moving average price of $5.81. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.

Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. Equities research analysts forecast that Wipro Limited will post 0.14 earnings per share for the current 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.