Integrated Quantitative Investments LLC Purchases Shares of 395,800 Wipro Limited (NYSE:WIT)

Integrated Quantitative Investments LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 395,800 shares of the information technology services provider’s stock, valued at approximately $1,401,000. Wipro makes up 0.7% of Integrated Quantitative Investments LLC’s portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Wipro by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider’s stock worth $244,000 after buying an additional 6,323 shares in the last quarter. OLD Mission Capital LLC acquired a new position in shares of Wipro during the fourth quarter valued at approximately $695,000. HighPoint Advisor Group LLC bought a new stake in Wipro during the fourth quarter worth approximately $45,000. Franklin Resources Inc. lifted its position in Wipro by 116.0% in the fourth quarter. Franklin Resources Inc. now owns 76,405 shares of the information technology services provider’s stock worth $270,000 after purchasing an additional 41,034 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Wipro by 34.3% during the 4th quarter. Wellington Management Group LLP now owns 1,769,600 shares of the information technology services provider’s stock valued at $6,264,000 after purchasing an additional 451,820 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Wipro Trading Down 5.3 %

Wipro stock opened at $2.93 on Friday. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. 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 has a market capitalization of $30.59 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 3.08 and a beta of 0.94. The company has a 50 day moving average price of $3.37 and a 200 day moving average price of $4.84.

Wipro (NYSE:WIT) last issued its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

WIT has been the subject of several research analyst reports. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.