Public Employees Retirement System of Ohio Acquires 175,833 Shares of Wipro Limited (NYSE:WIT)

Public Employees Retirement System of Ohio lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 163.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,234 shares of the information technology services provider’s stock after acquiring an additional 175,833 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Wipro were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WIT. Bell Investment Advisors Inc lifted its stake in shares of Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC purchased a new position in Wipro during the fourth quarter valued at $29,000. Farther Finance Advisors LLC boosted its holdings in shares of Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 4,851 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Wipro in the 4th quarter worth about $35,000. Finally, Freestone Capital Holdings LLC bought a new position in shares of Wipro in the 4th quarter worth about $36,000. Institutional investors own 2.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WIT shares. Wall Street Zen raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wipro presently has a consensus rating of “Hold”.

Wipro Stock Down 1.2%

Wipro stock opened at $2.84 on Wednesday. Wipro Limited has a 12 month low of $2.58 and a 12 month high of $3.79. The stock has a fifty day simple moving average of $2.88 and a two-hundred day simple moving average of $3.68. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market cap of $29.65 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.08 and a beta of 1.03.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.