Campbell & CO Investment Adviser LLC Acquires New Holdings in Wipro Limited (NYSE:WIT)

Campbell & CO Investment Adviser LLC purchased a new position in shares of Wipro Limited (NYSE:WITFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 113,628 shares of the information technology services provider’s stock, valued at approximately $550,000.

Several other hedge funds have also recently modified their holdings of WIT. BlackRock Inc. raised its position in shares of Wipro by 23.1% during the 2nd quarter. BlackRock Inc. now owns 29,106,981 shares of the information technology services provider’s stock worth $137,385,000 after purchasing an additional 5,454,757 shares during the last quarter. Morgan Stanley grew its stake in Wipro by 23.5% during the 4th quarter. Morgan Stanley now owns 13,757,038 shares of the information technology services provider’s stock valued at $64,108,000 after acquiring an additional 2,621,127 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Wipro by 853.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,526,285 shares of the information technology services provider’s stock valued at $11,924,000 after acquiring an additional 2,261,385 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Wipro by 19.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 12,301,682 shares of the information technology services provider’s stock valued at $58,064,000 after acquiring an additional 1,977,079 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in Wipro in the 2nd quarter valued at about $8,705,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 2.1 %

Shares of NYSE WIT opened at $5.99 on Tuesday. The company has a 50 day simple moving average of $5.52 and a 200-day simple moving average of $5.09. The company has a market capitalization of $31.23 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.55 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. Wipro Limited has a 1 year low of $4.32 and a 1 year high of $6.39.

Wipro (NYSE:WITGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.76 billion. Wipro had a return on equity of 15.68% and a net margin of 12.42%. On average, equities research analysts predict that Wipro Limited will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on WIT shares. BNP Paribas started coverage on shares of Wipro in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective for the company. Wedbush increased their price objective on shares of Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th. TheStreet upgraded shares of Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $4.82.

Read Our Latest Research Report on WIT

Wipro Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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