Wipro Limited (NYSE:WIT) Holdings Raised by Angeles Wealth Management LLC

Angeles Wealth Management LLC grew its stake in shares of Wipro Limited (NYSE:WIT) by 81.6% in the 4th quarter, HoldingsChannel reports. The firm owned 21,798 shares of the information technology services provider’s stock after acquiring an additional 9,796 shares during the quarter. Angeles Wealth Management LLC’s holdings in Wipro were worth $77,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Glenmede Trust Co. NA lifted its holdings in shares of Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 1,746 shares during the last quarter. BSW Wealth Partners lifted its holdings in shares of Wipro by 2.8% during the third 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 during the last quarter. GAMMA Investing LLC raised its position in Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after buying an additional 2,426 shares during the period. Franklin Resources Inc. raised its position in Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after buying an additional 2,951 shares during the period. Finally, PDS Planning Inc raised its position in Wipro by 3.7% during the third 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 period. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

Shares of WIT stock opened at $3.68 on Wednesday. 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 fifty-two week low of $2.55 and a fifty-two week high of $3.79. The stock’s 50-day moving average is $4.02 and its two-hundred day moving average is $5.59. The firm has a market cap of $38.43 billion, a P/E ratio of 25.35, a PEG ratio of 3.13 and a beta of 0.91.

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

Wall Street Analysts Forecast Growth

WIT has been the topic of several recent analyst reports. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One research 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 stock. Based on data from MarketBeat.com, Wipro currently has an average 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.