Wealthstream Advisors Inc. Raises Stake in Wipro Limited (NYSE:WIT)

Wealthstream Advisors Inc. lifted its stake in shares of Wipro Limited (NYSE:WIT) by 107.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,499 shares of the information technology services provider’s stock after purchasing an additional 30,847 shares during the quarter. Wealthstream Advisors Inc.’s holdings in Wipro were worth $211,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WIT. Ridgewood Investments LLC grew its position in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Wipro in the 4th quarter worth approximately $29,000. Beacon Financial Group acquired a new stake in shares of Wipro in the 4th quarter worth approximately $38,000. Leo Wealth LLC purchased a new position in Wipro in the 4th quarter valued at approximately $40,000. Finally, BOCHK Asset Management Ltd acquired a new position in Wipro during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Down 4.3 %

Shares of NYSE:WIT opened at $3.49 on Monday. The company has a market capitalization of $36.44 billion, a P/E ratio of 24.04, a P/E/G ratio of 3.08 and a beta of 0.91. The stock’s fifty day simple moving average is $3.60 and its 200-day simple moving average is $5.44. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07.

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%. As a group, equities research analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of 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 given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.