Fisher Asset Management LLC Buys 83,519 Shares of Wipro Limited (NYSE:WIT)

Fisher Asset Management LLC raised its stake in Wipro Limited (NYSE:WIT) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,312,160 shares of the information technology services provider’s stock after buying an additional 83,519 shares during the period. Fisher Asset Management LLC’s holdings in Wipro were worth $12,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AlphaQ Advisors LLC bought a new position in Wipro in the third quarter valued at $48,000. Marks Group Wealth Management Inc bought a new position in shares of Wipro during the 3rd quarter valued at about $49,000. Keel Point LLC purchased a new position in shares of Wipro during the 3rd quarter valued at about $54,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Wipro in the third quarter worth approximately $56,000. Finally, Essex Savings Bank bought a new position in Wipro during the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Up 0.6 %

WIT opened at $5.40 on Monday. Wipro Limited has a one year low of $4.48 and a one year high of $6.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The business has a 50 day simple moving average of $5.75 and a two-hundred day simple moving average of $5.44. The firm has a market capitalization of $28.18 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.24 and a beta of 0.86.

Analyst Ratings Changes

WIT has been the subject of a number of research reports. Wedbush increased their target price on shares of Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th. BNP Paribas assumed coverage on Wipro in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 target price for the company. StockNews.com downgraded Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, TheStreet upgraded shares of Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Based on data from MarketBeat, Wipro currently has a consensus rating of “Reduce” and an average price target of $5.05.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.