BSW Wealth Partners Boosts Stake in Wipro Limited (NYSE:WIT)

BSW Wealth Partners lifted its holdings in shares of Wipro Limited (NYSE:WITFree Report) by 102.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,083 shares of the information technology services provider’s stock after acquiring an additional 90,637 shares during the quarter. BSW Wealth Partners’ holdings in Wipro were worth $634,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. 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 valued at $25,000 after purchasing an additional 3,557 shares in the last quarter. PFG Investments LLC acquired a new position in Wipro during the 4th quarter worth $43,000. Fulton Bank N.A. bought a new stake in shares of Wipro in the 4th quarter worth about $44,000. Fragasso Financial Advisors Inc acquired a new stake in shares of Wipro in the 4th quarter valued at about $47,000. Finally, Clarendon Private LLC acquired a new position in Wipro in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Down 0.4 %

WIT stock opened at $3.65 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $4.68 and its 200 day simple moving average is $5.78. The stock has a market cap 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. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WITGet Free Report) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. As a group, sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Investec lowered Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Read Our Latest Analysis on WIT

Wipro Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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