BOCHK Asset Management Ltd Takes Position in Wipro Limited (NYSE:WIT)

BOCHK Asset Management Ltd purchased a new stake in shares of Wipro Limited (NYSE:WIT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,000 shares of the information technology services provider’s stock, valued at approximately $42,000.

Other institutional investors have also recently made changes to their positions in the company. Ridgewood Investments LLC boosted its holdings 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 worth $25,000 after purchasing an additional 3,557 shares during the last quarter. PFG Investments LLC purchased a new stake in Wipro in the fourth quarter worth approximately $43,000. Fulton Bank N.A. purchased a new stake in Wipro in the fourth quarter worth approximately $44,000. Fragasso Financial Advisors Inc purchased a new stake in Wipro in the fourth quarter worth approximately $47,000. Finally, Clarendon Private LLC purchased a new stake in Wipro in the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.4 %

Shares of Wipro stock opened at $3.65 on Wednesday. The company’s fifty day simple moving average is $4.62 and its 200-day simple moving average is $5.76. The stock has a market capitalization of $38.09 billion, a PE ratio of 25.14, a P/E/G ratio of 3.09 and a beta of 0.91. Wipro Limited has a 1-year low of $2.55 and a 1-year 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 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 net margin of 13.96% and a return on equity of 15.71%. As a group, equities analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of 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 assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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.