Waldron Private Wealth LLC Increases Stock Holdings in Wipro Limited (NYSE:WIT)

Waldron Private Wealth LLC boosted its stake in Wipro Limited (NYSE:WIT) by 99.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,840 shares of the information technology services provider’s stock after buying an additional 49,237 shares during the quarter. Waldron Private Wealth LLC’s holdings in Wipro were worth $350,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Caprock Group LLC lifted its position in shares of Wipro by 89.7% during the fourth quarter. Caprock Group LLC now owns 304,396 shares of the information technology services provider’s stock valued at $1,078,000 after purchasing an additional 143,926 shares in the last quarter. First Affirmative Financial Network lifted its position in shares of Wipro by 104.4% during the 4th quarter. First Affirmative Financial Network now owns 32,380 shares of the information technology services provider’s stock worth $115,000 after buying an additional 16,536 shares in the last quarter. BOCHK Asset Management Ltd bought a new position in shares of Wipro in the fourth quarter valued at approximately $42,000. Robeco Institutional Asset Management B.V. increased its position in shares of Wipro by 147.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock valued at $12,610,000 after acquiring an additional 2,120,454 shares during the last quarter. Finally, Foster Group Inc. lifted its holdings in Wipro by 107.6% during the fourth quarter. Foster Group Inc. now owns 58,354 shares of the information technology services provider’s stock worth $207,000 after acquiring an additional 30,240 shares during the period. 2.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Wipro Trading Down 0.4 %

Shares of WIT opened at $3.67 on Friday. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The business has a 50-day moving average of $4.42 and a 200 day moving average of $5.71. The firm has a market cap of $38.30 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 3.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share 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%. As a group, research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

About Wipro

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.