Augustine Asset Management Inc. Raises Position in Wipro Limited (NYSE:WIT)

Augustine Asset Management Inc. boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,006 shares of the information technology services provider’s stock after buying an additional 33,003 shares during the period. Augustine Asset Management Inc.’s holdings in Wipro were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of Wipro by 147.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock valued at $12,610,000 after acquiring an additional 2,120,454 shares in the last quarter. Fisher Asset Management LLC increased its stake in Wipro by 72.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider’s stock valued at $24,638,000 after purchasing an additional 1,593,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Wipro by 116.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock worth $10,435,000 after buying an additional 867,516 shares during the last quarter. Ballentine Partners LLC grew its stake in Wipro by 112.5% during the 4th quarter. Ballentine Partners LLC now owns 504,493 shares of the information technology services provider’s stock valued at $1,786,000 after purchasing an additional 267,036 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Wipro by 24.6% in the third quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider’s stock valued at $8,666,000 after purchasing an additional 263,925 shares during the period. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WIT shares. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Wipro Stock Down 0.4 %

Wipro stock opened at $3.68 on Wednesday. The business’s 50-day moving average price is $4.02 and its 200 day moving average price is $5.59. 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 market cap of $38.43 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Wipro 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.