Wipro Limited (NYSE:WIT) Shares Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC grew its stake in shares of Wipro Limited (NYSE:WIT) by 107.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,510 shares of the information technology services provider’s stock after purchasing an additional 38,644 shares during the quarter. Simon Quick Advisors LLC’s holdings in Wipro were worth $264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WIT. Ridgewood Investments LLC lifted its holdings in Wipro by 100.0% during 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. GAMMA Investing LLC increased its stake in 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 buying an additional 2,426 shares during the period. Abacus Wealth Partners LLC purchased a new stake in shares of Wipro during the 3rd quarter worth about $71,000. Werba Rubin Papier Wealth Management acquired a new position in Wipro during the third quarter worth $71,000. Finally, Fulton Bank N.A. bought a new position in shares of Wipro in the fourth quarter valued at approximately $44,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday. Finally, Investec cut Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Wipro Stock Performance

NYSE WIT opened at $3.74 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a 50-day moving average of $4.86 and a 200-day moving average of $5.84. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.75. The stock has a market cap of $39.03 billion, a PE ratio of 25.76, a P/E/G ratio of 2.98 and a beta of 0.91.

Wipro (NYSE:WIT) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. On average, sell-side analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

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.