Wipro Limited (NYSE:WIT) Shares Acquired by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 218.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,692 shares of the information technology services provider’s stock after acquiring an additional 23,798 shares during the period. Abacus Wealth Partners LLC’s holdings in Wipro were worth $123,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ridgewood Investments LLC lifted its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares during the last quarter. GAMMA Investing LLC raised its stake in Wipro by 37.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after acquiring an additional 2,426 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in Wipro in the third quarter valued at $71,000. Fulton Bank N.A. acquired a new position in Wipro in the fourth quarter valued at $44,000. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Wipro during the third quarter worth about $81,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Up 4.1 %

Wipro stock opened at $3.44 on Tuesday. The stock has a 50 day moving average of $5.07 and a two-hundred day moving average of $5.89. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.75. The stock has a market capitalization of $35.90 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 4.44 and a beta of 0.91. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08.

Analyst Ratings Changes

A number of brokerages recently issued reports on WIT. Investec cut Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday. Finally, UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wipro has an average rating of “Moderate Buy”.

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.