Fisher Asset Management LLC Has $23.68 Million Holdings in Wipro Limited (NYSE:WIT)


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Fisher Asset Management LLC cut its position in Wipro Limited (NYSE:WIT) by 2.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,735,160 shares of the information technology services provider’s stock after selling 105,495 shares during the quarter. Fisher Asset Management LLC’s holdings in Wipro were worth $23,681,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Aperio Group LLC lifted its position in shares of Wipro by 2.7% during the fourth quarter. Aperio Group LLC now owns 4,741,413 shares of the information technology services provider’s stock worth $26,789,000 after purchasing an additional 125,752 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Wipro by 17.3% during the fourth quarter. First Trust Advisors LP now owns 4,366,311 shares of the information technology services provider’s stock worth $24,670,000 after purchasing an additional 643,077 shares in the last quarter. Morgan Stanley lifted its position in shares of Wipro by 124.4% during the fourth quarter. Morgan Stanley now owns 3,941,041 shares of the information technology services provider’s stock worth $22,267,000 after purchasing an additional 2,184,902 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Wipro by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 3,479,150 shares of the information technology services provider’s stock worth $19,657,000 after purchasing an additional 392,567 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Wipro by 12.5% during the third quarter. Sei Investments Co. now owns 1,623,300 shares of the information technology services provider’s stock worth $7,630,000 after purchasing an additional 180,983 shares in the last quarter. Institutional investors own 2.32% of the company’s stock.

WIT stock opened at $7.20 on Tuesday. The company has a quick ratio of 2.57, a current ratio of 2.58 and a debt-to-equity ratio of 0.03. Wipro Limited has a 12 month low of $2.79 and a 12 month high of $7.36. The firm has a market cap of $40.99 billion, a P/E ratio of 31.30, a P/E/G ratio of 2.35 and a beta of 0.60. The company’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $5.99.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Wednesday, April 14th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Wipro had a net margin of 15.72% and a return on equity of 17.14%. Equities analysts predict that Wipro Limited will post 0.23 EPS for the current year.

A number of equities research analysts recently weighed in on WIT shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Wipro from a “neutral” rating to a “buy” rating in a research note on Thursday, April 22nd. Nomura upgraded shares of Wipro from a “reduce” rating to a “neutral” rating in a report on Friday, April 16th. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research note on Tuesday, April 20th. Finally, Citigroup raised shares of Wipro from a “neutral” rating to a “buy” rating in a research report on Friday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Wipro currently has an average rating of “Hold” and a consensus target price of $7.25.

About Wipro

Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the Information Technology Services and Information Technology Products segments. The Information Technology Services segment provides IT and IT-enabled services which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, BPO services, cloud, mobility and analytics services, research and development and hardware and software design.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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