Bridgewater Advisors Inc. Buys 99,955 Shares of Wipro Limited (NYSE:WIT)

Bridgewater Advisors Inc. grew its stake in Wipro Limited (NYSE:WIT) by 109.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,996 shares of the information technology services provider’s stock after acquiring an additional 99,955 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Wipro were worth $649,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WIT. Glenmede Trust Co. NA increased its holdings in Wipro by 4.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after buying an additional 1,746 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Wipro by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 14,686 shares of the information technology services provider’s stock worth $90,000 after acquiring an additional 2,104 shares during the period. BSW Wealth Partners raised its holdings in shares of Wipro by 2.8% during the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock valued at $573,000 after purchasing an additional 2,418 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Wipro by 21.7% in the second quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 2,832 shares during the last quarter. 2.36% of the stock is owned by institutional investors.

Wipro Price Performance

Shares of Wipro stock opened at $3.52 on Wednesday. The stock’s fifty day moving average is $4.99 and its 200 day moving average is $5.87. Wipro Limited has a one year low of $2.55 and a one year high of $3.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a market cap of $36.73 billion, a P/E ratio of 24.24, a P/E/G ratio of 4.44 and a beta of 0.91.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. Sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

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.