Wipro Limited (NYSE:WIT) Shares Bought by Foster Group Inc.

Foster Group Inc. raised its stake in shares of Wipro Limited (NYSE:WIT) by 107.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,354 shares of the information technology services provider’s stock after acquiring an additional 30,240 shares during the period. Foster Group Inc.’s holdings in Wipro were worth $207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC boosted its holdings in Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 3,557 shares during the period. GAMMA Investing LLC lifted its position in shares of Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after purchasing an additional 2,426 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in shares of Wipro in the third quarter valued at approximately $71,000. Werba Rubin Papier Wealth Management acquired a new position in shares of Wipro in the third quarter valued at approximately $71,000. Finally, PFG Investments LLC purchased a new stake in Wipro during the 4th quarter worth approximately $43,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

Shares of WIT stock opened at $3.68 on Thursday. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The company has a market cap of $38.41 billion, a P/E ratio of 25.35, a PEG ratio of 3.09 and a beta of 0.91. The firm has a fifty day moving average price of $4.62 and a 200 day moving average price of $5.76.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. 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 return on equity of 15.71% and a net margin of 13.96%. Sell-side analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.