Nomura Asset Management Co. Ltd. Grows Position in Wipro Limited (NYSE:WIT)

Nomura Asset Management Co. Ltd. boosted its stake in Wipro Limited (NYSE:WIT) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,200 shares of the information technology services provider’s stock after buying an additional 89,600 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wipro were worth $634,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Glenmede Trust Co. NA increased its position 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 during the last quarter. Franklin Resources Inc. increased its holdings in Wipro by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after purchasing an additional 2,951 shares during the last quarter. Ridgewood Investments LLC raised its position in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 3,557 shares during the period. Bell Investment Advisors Inc lifted its stake 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 worth $26,000 after purchasing an additional 3,631 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after buying an additional 4,851 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WIT. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Finally, HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Wipro Price Performance

Shares of NYSE WIT opened at $3.11 on Thursday. The stock’s 50-day moving average is $3.39 and its two-hundred day moving average is $4.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79.

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, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro 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.