12,466 Shares in Wipro Limited (NYSE:WIT) Bought by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC purchased a new position in shares of Wipro Limited (NYSE:WIT) during the 4th quarter, Holdings Channel.com reports. The firm purchased 12,466 shares of the information technology services provider’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIT. Robeco Institutional Asset Management B.V. raised its stake in Wipro by 147.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock worth $12,610,000 after acquiring an additional 2,120,454 shares in the last quarter. Fisher Asset Management LLC raised its stake in Wipro by 72.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider’s stock worth $24,638,000 after acquiring an additional 1,593,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Wipro by 116.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock worth $10,435,000 after purchasing an additional 867,516 shares during the last quarter. Ballentine Partners LLC grew its position in Wipro by 112.5% during the 4th quarter. Ballentine Partners LLC now owns 504,493 shares of the information technology services provider’s stock worth $1,786,000 after purchasing an additional 267,036 shares during the last quarter. Finally, Creative Planning grew its position in Wipro by 24.6% during the 3rd quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider’s stock worth $8,666,000 after purchasing an additional 263,925 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Stock Up 0.1 %

Shares of NYSE:WIT opened at $3.64 on Friday. The company has a market cap of $38.01 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 3.13 and a beta of 0.91. The firm’s 50-day simple moving average is $3.74 and its 200-day simple moving average is $5.53. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT) last issued its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, equities research analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

WIT has been the topic of several research reports. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. One investment 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, the stock presently has an average 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.