Ascent Capital Management LLC Acquires New Position in Wipro Limited (NYSE:WIT)

Ascent Capital Management LLC bought a new position in Wipro Limited (NYSE:WIT) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 15,581 shares of the information technology services provider’s stock, valued at approximately $55,000.

Several other large investors also recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Wipro by 0.8% during the third 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. 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 worth $26,636,000 after acquiring an additional 3,722,115 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Wipro by 208.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider’s stock valued at $17,592,000 after purchasing an additional 3,359,066 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Wipro by 147.1% in the fourth 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 purchasing an additional 2,120,454 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Wipro by 84.6% in the fourth quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock worth $12,394,000 after purchasing an additional 1,604,356 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Up 1.5 %

Shares of WIT stock opened at $3.08 on Friday. 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 Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The stock has a 50 day moving average of $3.49 and a 200 day moving average of $5.15. The stock has a market cap of $32.16 billion, a P/E ratio of 21.21, a P/E/G ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, sell-side analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

WIT has been the topic of a number of recent research reports. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wipro currently has a consensus rating of “Moderate Buy”.

About Wipro

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.