Intelligence Driven Advisers LLC Purchases Shares of 17,848 Wipro Limited (NYSE:WIT)

Intelligence Driven Advisers LLC acquired a new position in Wipro Limited (NYSE:WIT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,848 shares of the information technology services provider’s stock, valued at approximately $63,000.

A number of other hedge funds have also made changes to their positions in WIT. Glenmede Trust Co. NA boosted its holdings in Wipro by 4.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after acquiring an additional 1,746 shares during the period. BSW Wealth Partners grew its holdings in Wipro by 2.8% during the 3rd quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock valued at $573,000 after purchasing an additional 2,418 shares in the last quarter. GAMMA Investing LLC increased its stake in Wipro by 37.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after buying an additional 2,426 shares during the period. Franklin Resources Inc. increased its position in shares of Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock worth $233,000 after acquiring an additional 2,951 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in shares of Wipro by 3.7% during the 3rd quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock valued at $598,000 after buying an additional 3,302 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of WIT opened at $3.63 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The business’s fifty day moving average price is $3.88 and its 200 day moving average price is $5.56. The stock has a market capitalization of $37.96 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91.

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

Analyst Ratings Changes

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