Freestone Capital Holdings LLC Takes $36,000 Position in Wipro Limited (NYSE:WIT)

Freestone Capital Holdings LLC acquired a new stake in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,034 shares of the information technology services provider’s stock, valued at approximately $36,000.

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in Wipro by 0.8% during the third quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after purchasing an additional 87,682 shares during the last quarter. Fisher Asset Management LLC boosted its position in Wipro by 97.9% during the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock valued at $26,636,000 after purchasing an additional 3,722,115 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position 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 position 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 valued at $12,394,000 after purchasing an additional 1,604,356 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Wipro by 116.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock valued at $10,435,000 after purchasing an additional 867,516 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Price Performance

Shares of NYSE:WIT opened at $3.28 on Friday. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The business has a 50-day moving average of $3.53 and a two-hundred day moving average of $5.26. The stock has a market capitalization of $34.25 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.08 and a beta of 0.94. 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 (NYSE:WIT) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, equities research analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WIT shares. 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.