American Century Companies Inc. Buys 958,955 Shares of Wipro Limited (NYSE:WIT)

American Century Companies Inc. grew its stake in shares of Wipro Limited (NYSE:WIT) by 112.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,809,881 shares of the information technology services provider’s stock after acquiring an additional 958,955 shares during the quarter. American Century Companies Inc.’s holdings in Wipro were worth $6,407,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FMR LLC increased its stake in Wipro by 62.0% during the 3rd quarter. FMR LLC now owns 166,071 shares of the information technology services provider’s stock valued at $1,076,000 after purchasing an additional 63,586 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Wipro during the third quarter valued at approximately $136,000. Glenmede Trust Co. NA increased its position in shares of Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock valued at $242,000 after acquiring an additional 1,746 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Wipro by 89.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,557 shares of the information technology services provider’s stock worth $1,643,000 after acquiring an additional 119,883 shares during the last quarter. Finally, Centiva Capital LP bought a new position in Wipro in the 3rd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Shares of WIT opened at $2.80 on Friday. The firm has a fifty day simple moving average of $3.35 and a two-hundred day simple moving average of $4.81. The firm has a market cap of $29.28 billion, a PE ratio of 19.31, a P/E/G ratio of 3.08 and a beta of 0.94. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.