AIMZ Investment Advisors LLC Buys 144,840 Shares of Wipro Limited (NYSE:WIT)

AIMZ Investment Advisors LLC boosted its stake in shares of Wipro Limited (NYSE:WIT) by 97.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 293,412 shares of the information technology services provider’s stock after buying an additional 144,840 shares during the quarter. AIMZ Investment Advisors LLC’s holdings in Wipro were worth $1,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its holdings in Wipro by 184.6% in the fourth quarter. QRG Capital Management Inc. now owns 83,224 shares of the information technology services provider’s stock valued at $295,000 after acquiring an additional 53,980 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Wipro by 100.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 21,000 shares of the information technology services provider’s stock worth $74,000 after purchasing an additional 10,500 shares during the period. Cable Hill Partners LLC boosted its stake in shares of Wipro by 84.4% in the 4th quarter. Cable Hill Partners LLC now owns 88,032 shares of the information technology services provider’s stock valued at $312,000 after purchasing an additional 40,292 shares during the last quarter. NewEdge Wealth LLC increased its position in shares of Wipro by 100.2% during the fourth quarter. NewEdge Wealth LLC now owns 683,295 shares of the information technology services provider’s stock worth $2,419,000 after buying an additional 341,906 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Wipro by 74.3% during the fourth quarter. Bank of New York Mellon Corp now owns 25,451 shares of the information technology services provider’s stock worth $90,000 after buying an additional 10,851 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Shares of NYSE WIT opened at $3.37 on Friday. The firm has a market capitalization of $35.19 billion, a P/E ratio of 23.21, a P/E/G ratio of 3.08 and a beta of 0.91. The firm’s 50-day moving average price is $3.58 and its 200-day moving average price is $5.38. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly 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 15.46% and a net margin of 13.96%. Equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on WIT shares. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company 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.