Shelton Capital Management Boosts Stock Position in Wipro Limited (NYSE:WIT)

Shelton Capital Management raised its position in shares of Wipro Limited (NYSE:WIT) by 75.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 281,400 shares of the information technology services provider’s stock after purchasing an additional 120,700 shares during the quarter. Shelton Capital Management’s holdings in Wipro were worth $996,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock worth $82,692,000 after buying an additional 11,196,013 shares during the last quarter. State Street Corp boosted its position in 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 purchasing an additional 87,682 shares in the last quarter. Schroder Investment Management Group boosted its position in Wipro by 177.6% during the fourth quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock worth $34,280,000 after purchasing an additional 6,195,561 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Wipro by 41.5% during the fourth quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock worth $30,956,000 after purchasing an additional 2,566,388 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Wipro by 97.9% during the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

NYSE:WIT opened at $2.89 on Thursday. Wipro Limited has a one year low of $2.55 and a one year 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 stock has a market cap of $30.22 billion, a PE ratio of 19.93, a P/E/G ratio of 3.08 and a beta of 0.96. The stock has a 50 day moving average price of $3.27 and a 200 day moving average price of $4.69.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wipro presently has an average rating of “Hold”.

Wipro Company 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.