BSW Wealth Partners Has $573,000 Stake in Wipro Limited (NYSE:WIT)

BSW Wealth Partners raised its stake in Wipro Limited (NYSE:WIT) by 2.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 88,446 shares of the information technology services provider’s stock after buying an additional 2,418 shares during the period. BSW Wealth Partners’ holdings in Wipro were worth $573,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WIT. Sequoia Financial Advisors LLC raised its position in shares of Wipro by 11.2% during the first quarter. Sequoia Financial Advisors LLC now owns 177,097 shares of the information technology services provider’s stock worth $1,018,000 after purchasing an additional 17,899 shares during the period. BNP Paribas Financial Markets raised its position in shares of Wipro by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock worth $35,422,000 after purchasing an additional 2,437,802 shares during the period. Capstone Investment Advisors LLC raised its position in shares of Wipro by 20.6% during the first quarter. Capstone Investment Advisors LLC now owns 126,735 shares of the information technology services provider’s stock worth $729,000 after purchasing an additional 21,622 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Wipro during the first quarter worth about $206,000. Finally, Signaturefd LLC raised its position in shares of Wipro by 11.6% during the first quarter. Signaturefd LLC now owns 289,329 shares of the information technology services provider’s stock worth $1,664,000 after purchasing an additional 30,166 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 0.3 %

Shares of NYSE:WIT traded up $0.02 during mid-day trading on Friday, reaching $6.50. 1,651,007 shares of the stock were exchanged, compared to its average volume of 2,238,713. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The company has a market cap of $33.96 billion, a P/E ratio of 24.07, a P/E/G ratio of 4.38 and a beta of 0.89. Wipro Limited has a one year low of $4.49 and a one year high of $7.01. The stock’s 50 day simple moving average is $6.45 and its 200-day simple moving average is $6.02.

Analysts Set New Price Targets

A number of research firms have recently commented on WIT. Investec lowered Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.60.

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.