Wellington Management Group LLP Has $6.26 Million Stock Position in Wipro Limited (NYSE:WIT)

Wellington Management Group LLP grew its stake in Wipro Limited (NYSE:WIT) by 34.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,769,600 shares of the information technology services provider’s stock after purchasing an additional 451,820 shares during the period. Wellington Management Group LLP’s holdings in Wipro were worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WIT. Vanguard Group Inc. raised its stake in Wipro by 92.0% during the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock worth $82,692,000 after acquiring an additional 11,196,013 shares in the last quarter. State Street Corp grew 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 worth $70,157,000 after purchasing an additional 87,682 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock worth $34,280,000 after purchasing an additional 6,195,561 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Wipro by 41.5% during the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock valued at $30,956,000 after purchasing an additional 2,566,388 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Wipro by 97.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock valued at $26,636,000 after buying an additional 3,722,115 shares in the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Performance

WIT stock opened at $2.84 on Friday. The stock has a market capitalization of $29.65 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a 50 day moving average price of $3.25 and a 200 day moving average price of $4.66. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (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%. Analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

WIT has been the subject of several recent analyst reports. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

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.