Citadel Advisors LLC bought a new position in Wipro (NYSE:WIT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 43,495 shares of the information technology services provider’s stock, valued at approximately $238,000.
Several other hedge funds and other institutional investors also recently modified their holdings of WIT. Nationwide Fund Advisors grew its holdings in shares of Wipro by 100.0% in the 2nd quarter. Nationwide Fund Advisors now owns 26,596 shares of the information technology services provider’s stock worth $138,000 after acquiring an additional 13,298 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Wipro in the 4th quarter worth $194,000. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in shares of Wipro during the third quarter valued at $220,000. Dimensional Fund Advisors LP purchased a new position in shares of Wipro during the third quarter valued at $245,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Wipro by 47,330.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 45,533 shares of the information technology services provider’s stock valued at $249,000 after buying an additional 45,437 shares in the last quarter. Institutional investors and hedge funds own 2.52% of the company’s stock.
A number of brokerages have recently weighed in on WIT. Credit Suisse Group downgraded Wipro from a “neutral” rating to a “sell” rating in a report on Monday, January 22nd. Zacks Investment Research downgraded Wipro from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus price target of $141.50.
Wipro (NYSE:WIT) opened at $5.07 on Friday. Wipro has a twelve month low of $4.75 and a twelve month high of $6.40. The company has a current ratio of 2.16, a quick ratio of 2.14 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $23,395.63, a price-to-earnings ratio of 19.26, a PEG ratio of 2.44 and a beta of 0.65.
Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 19th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Wipro had a return on equity of 16.09% and a net margin of 15.46%. analysts expect that Wipro will post 0.27 EPS for the current fiscal year.
Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. The company's IT Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, business process services, research and development, and hardware and software design services to enterprises.
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