Laird Norton Wetherby Trust Company LLC Purchases 175,172 Shares of Wipro Limited (NYSE:WIT)

Laird Norton Wetherby Trust Company LLC grew its position in Wipro Limited (NYSE:WIT) by 239.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 248,375 shares of the information technology services provider’s stock after purchasing an additional 175,172 shares during the period. Laird Norton Wetherby Trust Company LLC’s holdings in Wipro were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WIT. Perigon Wealth Management LLC bought a new stake in Wipro during the 4th quarter worth about $61,000. HighTower Advisors LLC raised its holdings in Wipro by 292.0% during the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider’s stock worth $221,000 after acquiring an additional 46,432 shares in the last quarter. Barclays PLC bought a new stake in Wipro during the fourth quarter worth about $461,000. Tobam bought a new stake in Wipro during the fourth quarter worth about $261,000. Finally, Legal & General Group Plc raised its holdings in Wipro by 100.0% during the fourth quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 53,044 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wipro Stock Up 0.7%

Shares of WIT stock opened at $2.82 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50-day moving average is $2.95 and its 200-day moving average is $4.11. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 3.08 and a beta of 1.03. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, April 16th. 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 return on equity of 15.46% and a net margin of 13.96%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. Sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wipro currently has an average rating of “Hold”.

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.