Wrap search does not work if the cursor is at the very end of the document.
To reproduce, press Crtl+End to go to the end of the document. Then find a term in the document. The term will not be found, if you go back on character, the search will be successful.
I cannot reproduce this with 8.4.2x64: being at the end of the file, then using "wrap search" still finds the next occurance as if being at the start of the file.