11,302 Shares in Wipro Limited (NYSE:WIT) Acquired by Flputnam Investment Management Co.

Flputnam Investment Management Co. purchased a new stake in Wipro Limited (NYSE:WIT) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 11,302 shares of the information technology services provider’s stock, valued at approximately $40,000.

Several other institutional investors also recently made changes to their positions in WIT. Ridgewood Investments LLC raised its position in shares of Wipro by 100.0% in 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 period. Sierra Ocean LLC acquired a new stake in Wipro during the fourth quarter worth about $29,000. Beacon Financial Group purchased a new position in shares of Wipro in the 4th quarter worth about $38,000. Leo Wealth LLC acquired a new position in shares of Wipro in the 4th quarter valued at about $40,000. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Wipro during the 4th quarter worth about $42,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

Wipro stock opened at $3.21 on Wednesday. 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 Limited has a one year low of $2.55 and a one year high of $3.79. The stock’s 50 day moving average price is $3.55 and its 200 day moving average price is $5.31. The firm has a market capitalization of $33.52 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.08 and a beta of 0.91.

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

Wall Street Analyst Weigh In

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

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.