PDS Planning Inc Acquires 88,744 Shares of Wipro Limited (NYSE:WIT)

PDS Planning Inc boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 96.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,096 shares of the information technology services provider’s stock after purchasing an additional 88,744 shares during the period. PDS Planning Inc’s holdings in Wipro were worth $641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WIT. Signaturefd LLC increased its holdings in shares of Wipro by 97.7% during the fourth quarter. Signaturefd LLC now owns 591,357 shares of the information technology services provider’s stock worth $2,093,000 after buying an additional 292,229 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Wipro by 98.6% during the fourth quarter. Corient Private Wealth LLC now owns 599,769 shares of the information technology services provider’s stock worth $2,123,000 after buying an additional 297,756 shares in the last quarter. Gitterman Wealth Management LLC increased its holdings in shares of Wipro by 115.4% during the fourth quarter. Gitterman Wealth Management LLC now owns 51,639 shares of the information technology services provider’s stock worth $183,000 after buying an additional 27,660 shares in the last quarter. Ascent Capital Management LLC acquired a new stake in shares of Wipro during the fourth quarter worth approximately $55,000. Finally, Natixis Advisors LLC increased its holdings in shares of Wipro by 109.3% during the fourth quarter. Natixis Advisors LLC now owns 336,727 shares of the information technology services provider’s stock worth $1,192,000 after buying an additional 175,822 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Wipro Price Performance

Shares of NYSE WIT opened at $3.01 on Wednesday. The firm has a market cap of $31.42 billion, a PE ratio of 20.73, a PEG ratio of 3.08 and a beta of 0.94. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a fifty day moving average price of $3.47 and a 200 day moving average price of $5.09.

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

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.