Gitterman Wealth Management LLC Raises Position in Wipro Limited (NYSE:WIT)

Gitterman Wealth Management LLC grew its position in Wipro Limited (NYSE:WIT) by 115.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 51,639 shares of the information technology services provider’s stock after buying an additional 27,660 shares during the period. Gitterman Wealth Management LLC’s holdings in Wipro were worth $183,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Perigon Wealth Management LLC purchased a new position in Wipro in the fourth quarter worth about $61,000. Tobam purchased a new position in Wipro in the fourth quarter worth about $261,000. Van ECK Associates Corp raised its holdings in Wipro by 89.8% in the fourth quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock worth $1,235,000 after buying an additional 165,076 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Wipro by 93.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock worth $307,000 after buying an additional 41,766 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Wipro in the third quarter worth about $610,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIT has been the subject of several research reports. HSBC raised shares of 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 raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Wipro Trading Up 1.5 %

Shares of WIT stock opened at $3.08 on Friday. 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 $32.16 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 3.08 and a beta of 0.94. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a fifty day moving average price of $3.49 and a 200-day moving average price of $5.15.

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%. As a group, equities analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

About Wipro

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.