Candriam S.C.A. Sells 166,000 Shares of Wipro Limited (NYSE:WIT)

Candriam S.C.A. reduced its position in Wipro Limited (NYSE:WIT) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 414,000 shares of the information technology services provider’s stock after selling 166,000 shares during the period. Candriam S.C.A.’s holdings in Wipro were worth $1,466,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WIT. Fisher Asset Management LLC lifted its holdings in shares of Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in 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 buying an additional 2,120,454 shares during the last quarter. Rhumbline Advisers raised its position in Wipro by 84.6% in the 4th quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock valued at $12,394,000 after buying an additional 1,604,356 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 valued at $10,435,000 after buying an additional 867,516 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Wipro in the 4th quarter valued at $1,667,000. 2.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Wipro Trading Down 0.2 %

Shares of Wipro stock opened at $3.28 on Monday. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a market cap of $34.25 billion, a PE ratio of 22.59, a P/E/G ratio of 3.08 and a beta of 0.94. The stock has a fifty day moving average price of $3.53 and a 200-day moving average price of $5.25. 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 (NYSE:WIT) last announced its 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%. Equities research analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Wipro Company 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.