Angeles Wealth Management LLC Acquires 8,693 Shares of Wipro Limited $WIT

Angeles Wealth Management LLC increased its holdings in shares of Wipro Limited (NYSE:WIT) by 42.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,028 shares of the information technology services provider’s stock after purchasing an additional 8,693 shares during the period. Angeles Wealth Management LLC’s holdings in Wipro were worth $88,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vest Financial LLC bought a new position in shares of Wipro during the 2nd quarter valued at about $31,000. Hamilton Capital LLC bought a new position in shares of Wipro during the 1st quarter valued at about $32,000. Legacy Advisors LLC bought a new position in shares of Wipro during the 1st quarter valued at about $40,000. Hoxton Planning & Management LLC bought a new position in shares of Wipro during the 1st quarter valued at about $48,000. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Wipro by 62.4% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 16,253 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 6,245 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Wipro in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Wipro currently has a consensus rating of “Reduce”.

Wipro Stock Performance

NYSE WIT opened at $2.64 on Friday. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 17.60 and a beta of 1.00. The stock’s 50 day moving average price is $2.73 and its two-hundred day moving average price is $2.84. Wipro Limited has a 52 week low of $2.58 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last released its earnings results on Thursday, October 16th. The information technology services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $224.40 billion. Wipro had a net margin of 15.06% and a return on equity of 15.70%. On average, equities research analysts forecast that Wipro Limited will post 0.14 EPS for the current 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.