Ascent Capital Management LLC Invests $55,000 in Wipro Limited (NYSE:WIT)

Ascent Capital Management LLC purchased a new stake in Wipro Limited (NYSE:WIT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 15,581 shares of the information technology services provider’s stock, valued at approximately $55,000.

Several other institutional investors also recently bought and sold shares of WIT. Prime Capital Investment Advisors LLC lifted its position in shares of Wipro by 31.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 14,992 shares of the information technology services provider’s stock valued at $97,000 after acquiring an additional 3,558 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Wipro by 36.2% in the 3rd quarter. Victory Capital Management Inc. now owns 206,106 shares of the information technology services provider’s stock valued at $1,336,000 after purchasing an additional 54,791 shares in the last quarter. Natixis Advisors LLC boosted its stake in Wipro by 42.3% during the 3rd quarter. Natixis Advisors LLC now owns 160,905 shares of the information technology services provider’s stock worth $1,043,000 after purchasing an additional 47,800 shares during the last quarter. Caprock Group LLC grew its holdings in shares of Wipro by 6.5% during the third quarter. Caprock Group LLC now owns 160,470 shares of the information technology services provider’s stock worth $1,040,000 after buying an additional 9,741 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Wipro in the third quarter valued at about $610,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Trading Up 1.5 %

Shares of WIT opened at $3.08 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $3.49 and a 200 day moving average price of $5.15. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The firm has a market capitalization of $32.16 billion, a P/E ratio of 21.21, a P/E/G ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last announced 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%. Sell-side analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

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