Wipro Limited (NYSE:WIT) Shares Bought by Boston Private Wealth LLC

Boston Private Wealth LLC boosted its position in Wipro Limited (NYSE:WIT) by 11.2% in the 3rd quarter, Holdings Channel reports. The fund owned 13,064 shares of the information technology services provider’s stock after purchasing an additional 1,319 shares during the period. Boston Private Wealth LLC’s holdings in Wipro were worth $115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Gitterman Wealth Management LLC increased its stake in shares of Wipro by 13.2% during the 3rd quarter. Gitterman Wealth Management LLC now owns 28,607 shares of the information technology services provider’s stock valued at $253,000 after acquiring an additional 3,333 shares during the last quarter. Atticus Wealth Management LLC acquired a new stake in Wipro in the 3rd quarter valued at $40,000. JustInvest LLC raised its holdings in shares of Wipro by 10.0% during the 3rd quarter. JustInvest LLC now owns 54,739 shares of the information technology services provider’s stock valued at $483,000 after buying an additional 4,969 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Wipro in the 3rd quarter valued at about $3,100,000. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Wipro by 4.2% in the third quarter. Advisor Group Holdings Inc. now owns 50,064 shares of the information technology services provider’s stock worth $442,000 after acquiring an additional 2,008 shares in the last quarter. Institutional investors own 2.30% of the company’s stock.

Shares of NYSE:WIT opened at $8.58 on Friday. The firm has a fifty day moving average of $9.04 and a two-hundred day moving average of $8.92. The firm has a market capitalization of $47.01 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.28 and a beta of 0.66. Wipro Limited has a 12-month low of $6.09 and a 12-month high of $9.96. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.09.

Wipro (NYSE:WIT) last issued its earnings results on Tuesday, January 11th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Wipro had a net margin of 16.25% and a return on equity of 20.50%. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts expect that Wipro Limited will post 0.3 earnings per share for the current fiscal year.

The firm also recently disclosed an annual dividend, which will be paid on Monday, January 24th. Investors of record on Monday, January 24th will be paid a $0.012 dividend. This represents a dividend yield of 0.14%. The ex-dividend date is Friday, January 21st. Wipro’s payout ratio is presently 3.45%.

Several analysts recently weighed in on the company. Zacks Investment Research raised Wipro from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday. JPMorgan Chase & Co. upgraded shares of Wipro from an “underweight” rating to a “neutral” rating in a research note on Thursday, September 30th. Finally, Morgan Stanley upgraded shares of Wipro from an “underweight” rating to an “equal weight” rating in a research report on Thursday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Wipro currently has a consensus rating of “Hold” and a consensus price target of $8.62.

Wipro Profile

Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products segments. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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