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

Wellington Management Group LLP increased its stake in shares of Wipro Limited (NYSE:WIT) by 34.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,769,600 shares of the information technology services provider’s stock after buying an additional 451,820 shares during the quarter. Wellington Management Group LLP’s holdings in Wipro were worth $6,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ridgewood Investments LLC grew its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares during the period. Bell Investment Advisors Inc grew its holdings in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC bought a new stake in Wipro in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC bought a new position in shares of Wipro during the fourth quarter worth $36,000. Institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WIT shares. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Two research analysts have 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. Based on data from MarketBeat, the company has an average rating of “Hold”.

Wipro Price Performance

Shares of NYSE WIT opened at $2.84 on Friday. The company has a fifty day moving average price of $3.25 and a 200 day moving average price of $4.66. 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 $29.65 billion, a PE ratio of 19.55, a PEG ratio of 3.08 and a beta of 0.96. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal 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.