Newport Capital Group LLC Purchases 14,604 Shares of Wipro Limited (NYSE:WIT)

Newport Capital Group LLC grew its position in Wipro Limited (NYSE:WIT) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,208 shares of the information technology services provider’s stock after acquiring an additional 14,604 shares during the quarter. Newport Capital Group LLC’s holdings in Wipro were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Wipro by 0.8% in the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after acquiring an additional 87,682 shares during the last quarter. Fisher Asset Management LLC raised its position in Wipro by 72.2% during the third 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 during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Wipro by 147.1% in the 4th 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 purchasing an additional 2,120,454 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Wipro by 116.8% in the 3rd 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 purchasing an additional 867,516 shares during the period. Finally, Creative Planning increased its position in shares of Wipro by 24.6% during the 3rd 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 last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WIT has been the subject of several recent analyst reports. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wipro currently has a consensus rating of “Moderate Buy”.

Wipro Trading Up 0.1 %

Shares of WIT opened at $3.64 on Friday. The firm has a market capitalization of $38.01 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 3.13 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a 50-day moving average of $3.88 and a 200 day moving average of $5.56.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, research analysts expect that Wipro Limited will post 0.14 EPS 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.