TCW Group Inc. Buys 148,978 Shares of Wipro Limited (NYSE:WIT)

TCW Group Inc. raised its holdings in shares of Wipro Limited (NYSE:WIT) by 63.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 384,328 shares of the information technology services provider’s stock after acquiring an additional 148,978 shares during the quarter. TCW Group Inc.’s holdings in Wipro were worth $1,361,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WIT. Allspring Global Investments Holdings LLC acquired a new position in Wipro during the 3rd quarter valued at about $860,000. BSW Wealth Partners lifted its position in Wipro by 2.8% during the 3rd 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 period. QRG Capital Management Inc. lifted its position in Wipro by 13.2% during the 3rd quarter. QRG Capital Management Inc. now owns 29,244 shares of the information technology services provider’s stock valued at $190,000 after purchasing an additional 3,408 shares during the period. PDS Planning Inc lifted its position in Wipro by 3.7% during the 3rd quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock valued at $598,000 after purchasing an additional 3,302 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in Wipro during the 3rd quarter valued at about $211,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Stock Performance

Shares of WIT stock opened at $3.42 on Tuesday. 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 company has a market capitalization of $35.71 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 3.08 and a beta of 0.91. The company’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $5.42. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. One investment analyst has 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, the company has a consensus 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.