Mayflower Financial Advisors LLC Acquires 12,106 Shares of Wipro Limited (NYSE:WIT)

Mayflower Financial Advisors LLC grew its holdings in shares of Wipro Limited (NYSE:WIT) by 103.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,820 shares of the information technology services provider’s stock after buying an additional 12,106 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Wipro were worth $84,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ridgewood Investments LLC boosted its position in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. PFG Investments LLC bought a new position in shares of Wipro in the fourth quarter valued at $43,000. Fulton Bank N.A. acquired a new position in Wipro during the fourth quarter worth $44,000. Fragasso Financial Advisors Inc bought a new stake in Wipro during the fourth quarter worth $47,000. Finally, Clarendon Private LLC acquired a new stake in Wipro in the fourth quarter valued at $52,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Investec lowered Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. One equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Wipro Stock Up 0.7 %

Wipro stock opened at $3.68 on Thursday. The company’s 50-day moving average price is $4.62 and its two-hundred day moving average price is $5.76. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock has a market cap of $38.41 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.09 and a beta of 0.91. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79.

Wipro (NYSE:WIT) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. As a group, analysts expect that Wipro Limited will post 0.14 EPS for the current year.

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.