WealthCollab LLC Grows Holdings in Wipro Limited (NYSE:WIT)

WealthCollab LLC boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,254 shares of the information technology services provider’s stock after acquiring an additional 9,627 shares during the period. WealthCollab LLC’s holdings in Wipro were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WIT. Ridgewood Investments LLC boosted 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 purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 3,631 shares during the last quarter. Sierra Ocean LLC bought a new stake in Wipro in the fourth quarter worth $29,000. Farther Finance Advisors LLC grew its stake in shares of Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Freestone Capital Holdings LLC bought a new position in shares of Wipro during the fourth quarter valued at $36,000. Institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

WIT has been the topic of several recent analyst reports. Jefferies Financial Group downgraded shares of Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Wipro Price Performance

NYSE WIT opened at $2.86 on Wednesday. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The stock has a 50-day moving average of $3.03 and a 200 day moving average of $4.33. 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 company has a market capitalization of $29.86 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $225.66 billion. On average, sell-side analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

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.