Drive Wealth Management LLC Has $135,000 Stock Position in Wipro Limited (NYSE:WIT)

Drive Wealth Management LLC lifted its holdings in Wipro Limited (NYSE:WIT) by 105.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,117 shares of the information technology services provider’s stock after acquiring an additional 19,594 shares during the period. Drive Wealth Management LLC’s holdings in Wipro were worth $135,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of WIT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Wipro during the fourth quarter worth approximately $67,000. Clarendon Private LLC acquired a new position in Wipro in the 4th quarter valued at $52,000. Flagship Harbor Advisors LLC acquired a new position in Wipro in the 4th quarter valued at $55,000. Aspiring Ventures LLC bought a new stake in shares of Wipro during the 4th quarter valued at $56,000. Finally, DGS Capital Management LLC grew its holdings in shares of Wipro by 114.8% during the 4th quarter. DGS Capital Management LLC now owns 419,721 shares of the information technology services provider’s stock worth $1,486,000 after purchasing an additional 224,280 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Wipro Trading Down 0.4 %

Shares of Wipro stock opened at $3.65 on Wednesday. The firm has a market capitalization of $38.09 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 3.09 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. The firm’s 50 day moving average is $4.68 and its 200 day moving average is $5.78. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.71%. Equities research analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report 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 given a strong buy rating to the company. According to data from MarketBeat.com, Wipro presently has a consensus 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.