Wipro Limited (NYSE:WIT) Shares Sold by PDS Planning Inc

PDS Planning Inc cut its holdings in Wipro Limited (NYSE:WIT) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,995 shares of the information technology services provider’s stock after selling 4,176 shares during the quarter. PDS Planning Inc’s holdings in Wipro were worth $418,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WIT. CWM LLC increased its stake in Wipro by 24.2% in the third quarter. CWM LLC now owns 15,335 shares of the information technology services provider’s stock valued at $74,000 after purchasing an additional 2,987 shares during the period. Ronald Blue Trust Inc. increased its stake in shares of Wipro by 28.9% during the third quarter. Ronald Blue Trust Inc. now owns 13,678 shares of the information technology services provider’s stock worth $65,000 after acquiring an additional 3,066 shares during the period. Ballentine Partners LLC increased its stake in shares of Wipro by 26.1% during the third quarter. Ballentine Partners LLC now owns 127,028 shares of the information technology services provider’s stock worth $615,000 after acquiring an additional 26,328 shares during the period. Clarius Group LLC acquired a new position in shares of Wipro during the third quarter worth about $69,000. Finally, Lester Murray Antman dba SimplyRich increased its stake in shares of Wipro by 76.8% during the third quarter. Lester Murray Antman dba SimplyRich now owns 151,687 shares of the information technology services provider’s stock worth $734,000 after acquiring an additional 65,868 shares during the period. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WIT. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. BNP Paribas initiated coverage on shares of Wipro in a research report on Wednesday, January 17th. They set an “underperform” rating and a $5.20 target price on the stock. Wedbush upped their target price on shares of Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 16th. Finally, TheStreet upgraded shares of Wipro from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Four equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. According to MarketBeat.com, Wipro has a consensus rating of “Reduce” and a consensus price target of $5.05.

Wipro Price Performance

Shares of NYSE WIT traded up $0.01 on Tuesday, hitting $5.53. The company’s stock had a trading volume of 931,334 shares, compared to its average volume of 2,857,606. Wipro Limited has a 12-month low of $4.47 and a 12-month high of $6.45. The company has a market capitalization of $28.85 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The stock has a 50 day moving average of $5.90 and a 200-day moving average of $5.41.

Wipro Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.