Adero Partners LLC Makes New Investment in Wipro Limited (NYSE:WIT)

Adero Partners LLC acquired a new stake in Wipro Limited (NYSE:WIT) in the 4th quarter, HoldingsChannel reports. The fund acquired 22,423 shares of the information technology services provider’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Perigon Wealth Management LLC acquired a new position in shares of Wipro in the 4th quarter valued at about $61,000. Segall Bryant & Hamill LLC acquired a new position in shares of Wipro in the 3rd quarter valued at about $610,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Wipro in the 3rd quarter valued at about $860,000. Ritholtz Wealth Management lifted its holdings in shares of Wipro by 127.9% in the 4th quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider’s stock valued at $919,000 after buying an additional 145,629 shares during the period. Finally, DGS Capital Management LLC lifted its holdings in shares of Wipro by 114.8% in the 4th quarter. DGS Capital Management LLC now owns 419,721 shares of the information technology services provider’s stock valued at $1,486,000 after buying an additional 224,280 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Price Performance

NYSE:WIT opened at $3.69 on Friday. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The stock has a 50 day moving average of $4.22 and a two-hundred day moving average of $5.64. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market cap of $38.54 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.10 and a beta of 0.91.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Finally, HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

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.