Adero Partners LLC Buys Shares of 22,423 Wipro Limited (NYSE:WIT)

Adero Partners LLC bought a new stake in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,423 shares of the information technology services provider’s stock, valued at approximately $79,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Glenmede Trust Co. NA raised its position in Wipro by 4.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 1,746 shares in the last quarter. BSW Wealth Partners increased its holdings in shares of Wipro by 2.8% in the 3rd quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock valued at $573,000 after acquiring an additional 2,418 shares during the period. GAMMA Investing LLC increased its holdings in shares of Wipro by 37.8% in the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after acquiring an additional 2,426 shares during the period. Franklin Resources Inc. increased its holdings in shares of Wipro by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after acquiring an additional 2,951 shares during the period. Finally, PDS Planning Inc increased its holdings in shares of Wipro by 3.7% in the 3rd quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock valued at $598,000 after acquiring an additional 3,302 shares during the period. 2.36% of the stock is owned by institutional investors.

Wipro Stock Down 0.7 %

Shares of WIT stock opened at $3.69 on Friday. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The stock’s fifty day moving average price is $4.22 and its 200 day moving average price is $5.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 3.10 and a beta of 0.91.

Wipro (NYSE:WIT) last issued its quarterly 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 return on equity of 15.46% and a net margin of 13.96%. On average, research analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WIT shares. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. One investment analyst has 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.