Enterprise Financial Services Corp Boosts Stake in Wipro Limited (NYSE:WIT)

Enterprise Financial Services Corp boosted its stake in Wipro Limited (NYSE:WIT) by 100.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,592 shares of the information technology services provider’s stock after buying an additional 13,296 shares during the quarter. Enterprise Financial Services Corp’s holdings in Wipro were worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WIT. Ridgewood Investments LLC raised its position in Wipro by 100.0% in 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 period. Sierra Ocean LLC purchased a new stake in shares of Wipro in the fourth quarter valued at about $29,000. Freestone Capital Holdings LLC purchased a new position in Wipro during the fourth quarter worth about $36,000. Callan Family Office LLC purchased a new position in Wipro during the fourth quarter worth about $37,000. Finally, Beacon Financial Group purchased a new position in Wipro during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

WIT has been the topic of several research reports. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Wipro Stock Performance

Wipro stock opened at $3.28 on Friday. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The company has a market capitalization of $34.25 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The firm’s fifty day moving average price is $3.53 and its 200 day moving average price is $5.26.

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

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.