Bessemer Group Inc. Raises Position in Wipro Limited (NYSE:WIT)

Bessemer Group Inc. grew its position in shares of Wipro Limited (NYSE:WIT) by 100.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,450 shares of the information technology services provider’s stock after acquiring an additional 25,225 shares during the period. Bessemer Group Inc.’s holdings in Wipro were worth $179,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Wipro by 92.0% in 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 purchasing an additional 11,196,013 shares during the period. State Street Corp grew its position 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 buying an additional 87,682 shares during the period. Schroder Investment Management Group increased its stake in shares of Wipro by 177.6% in 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 acquiring an additional 6,195,561 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Wipro by 41.5% in the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock worth $30,956,000 after acquiring an additional 2,566,388 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Wipro by 97.9% during the 4th 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 acquiring an additional 3,722,115 shares during the period. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 2.5 %

Shares of NYSE WIT opened at $2.75 on Thursday. The company has a market cap of $28.76 billion, a PE ratio of 18.97, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50 day moving average price is $3.18 and its 200-day moving average price is $4.57. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WIT. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Jefferies Financial Group lowered Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

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.