Penobscot Investment Management Company Inc. Raises Stock Holdings in Wipro Limited (NYSE:WIT)

Penobscot Investment Management Company Inc. increased its holdings in shares of Wipro Limited (NYSE:WIT) by 100.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,502 shares of the information technology services provider’s stock after acquiring an additional 14,751 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Wipro were worth $104,000 as of its most recent SEC filing.

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

Wipro Stock Down 1.1 %

Wipro stock opened at $3.11 on Thursday. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 3.08 and a beta of 0.94. The firm has a 50 day simple moving average of $3.42 and a 200 day simple moving average of $4.97. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (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, analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research note 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 analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wipro currently has a consensus rating of “Moderate Buy”.

Wipro 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.