Blue Trust Inc. Boosts Position in Wipro Limited (NYSE:WIT)

Blue Trust Inc. increased its holdings in shares of Wipro Limited (NYSE:WIT) by 72.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 315,287 shares of the information technology services provider’s stock after acquiring an additional 132,279 shares during the quarter. Blue Trust Inc.’s holdings in Wipro were worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new position in Wipro during the third quarter worth approximately $610,000. Allspring Global Investments Holdings LLC acquired a new position in Wipro during the third quarter worth approximately $860,000. Ritholtz Wealth Management increased its position in Wipro by 127.9% during the fourth quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider’s stock worth $919,000 after buying an additional 145,629 shares during the period. DGS Capital Management LLC increased its holdings in shares of Wipro by 114.8% in the fourth quarter. DGS Capital Management LLC now owns 419,721 shares of the information technology services provider’s stock valued at $1,486,000 after purchasing an additional 224,280 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Wipro by 12.9% in the second quarter. AQR Capital Management LLC now owns 694,610 shares of the information technology services provider’s stock valued at $4,223,000 after purchasing an additional 79,431 shares during the period. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Down 0.4 %

Wipro stock opened at $3.65 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a market cap of $38.09 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 3.09 and a beta of 0.91. The stock’s 50 day moving average price is $4.68 and its 200 day moving average price is $5.78.

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, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. On average, sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

WIT has been the topic of a number of recent research reports. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Investec lowered Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wipro currently has a consensus rating of “Moderate Buy”.

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.