OLD Mission Capital LLC Makes New Investment in Wipro Limited (NYSE:WIT)

OLD Mission Capital LLC bought a new stake in Wipro Limited (NYSE:WIT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 196,383 shares of the information technology services provider’s stock, valued at approximately $695,000.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its position in shares of Wipro by 62.0% during the third quarter. FMR LLC now owns 166,071 shares of the information technology services provider’s stock worth $1,076,000 after purchasing an additional 63,586 shares in the last quarter. Townsquare Capital LLC acquired a new stake in shares of Wipro during the third quarter valued at about $136,000. Glenmede Trust Co. NA grew its stake in shares of Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock valued at $242,000 after acquiring an additional 1,746 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Wipro by 89.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,557 shares of the information technology services provider’s stock worth $1,643,000 after acquiring an additional 119,883 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in Wipro in the third quarter valued at about $140,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Price Performance

Shares of NYSE WIT opened at $2.80 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. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The business has a 50 day simple moving average of $3.35 and a 200-day simple moving average of $4.81.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock 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.