Wipro Limited (NYSE:WIT) Stock Position Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in shares of Wipro Limited (NYSE:WIT) by 92.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 99,687 shares of the information technology services provider’s stock after buying an additional 47,788 shares during the period. EverSource Wealth Advisors LLC’s holdings in Wipro were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Wipro by 0.8% in the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after acquiring an additional 87,682 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Wipro by 147.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,562,214 shares of the information technology services provider’s stock valued at $12,610,000 after purchasing an additional 2,120,454 shares during the last quarter. Rhumbline Advisers boosted its holdings in Wipro by 84.6% during the fourth quarter. Rhumbline Advisers now owns 3,501,225 shares of the information technology services provider’s stock worth $12,394,000 after buying an additional 1,604,356 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Wipro by 116.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock worth $10,435,000 after buying an additional 867,516 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Price Performance

WIT opened at $3.08 on Friday. The firm has a market capitalization of $32.16 billion, a P/E ratio of 21.21, a PEG ratio of 3.08 and a beta of 0.94. The stock has a fifty day moving average of $3.49 and a 200-day moving average of $5.15. 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 Limited has a 12-month low of $2.55 and a 12-month high of $3.79.

Wipro (NYSE:WIT) last announced its quarterly earnings data 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 return on equity of 15.46% and a net margin of 13.96%. Equities analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WIT. HSBC upgraded 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 note on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wipro 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.