Clarendon Private LLC Makes New $52,000 Investment in Wipro Limited (NYSE:WIT)

Clarendon Private LLC purchased a new position in shares of Wipro Limited (NYSE:WIT) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 14,588 shares of the information technology services provider’s stock, valued at approximately $52,000.

Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in Wipro during the fourth quarter worth about $55,000. Aspiring Ventures LLC acquired a new position in shares of Wipro during the 4th quarter valued at about $56,000. DGS Capital Management LLC lifted its holdings in shares of Wipro by 114.8% during the 4th quarter. DGS Capital Management LLC now owns 419,721 shares of the information technology services provider’s stock worth $1,486,000 after acquiring an additional 224,280 shares during the period. Euro Pacific Asset Management LLC boosted its position in shares of Wipro by 83.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 22,634 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 10,275 shares during the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in Wipro by 107.7% in the fourth quarter. Simon Quick Advisors LLC now owns 74,510 shares of the information technology services provider’s stock valued at $264,000 after purchasing an additional 38,644 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Wipro Trading Up 0.7 %

NYSE:WIT opened at $3.77 on Friday. The business’s 50-day moving average is $4.74 and its two-hundred day moving average is $5.81. The firm has a market capitalization of $39.35 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.09 and a beta of 0.91. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. 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 (NYSE:WIT) last released its quarterly earnings results 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 15.71% and a net margin of 13.96%. Research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.