Sequoia Financial Advisors LLC Acquires 191,725 Shares of Wipro Limited (NYSE:WIT)

Sequoia Financial Advisors LLC boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 101.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 381,476 shares of the information technology services provider’s stock after purchasing an additional 191,725 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Wipro were worth $1,350,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Ridgewood Investments LLC raised its position in shares of Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc grew its stake in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new stake in Wipro in the 4th quarter valued at $29,000. Freestone Capital Holdings LLC purchased a new stake in Wipro in the 4th quarter worth $36,000. Finally, Callan Family Office LLC bought a new position in shares of Wipro during the 4th quarter valued at about $37,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on WIT. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wipro currently has a consensus rating of “Moderate Buy”.

Wipro Trading Up 1.5 %

Shares of NYSE WIT opened at $3.08 on Friday. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The business’s 50 day moving average is $3.49 and its two-hundred day moving average is $5.15. The stock has a market capitalization of $32.16 billion, a P/E ratio of 21.21, a PEG ratio of 3.08 and a beta of 0.94.

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