Bell Investment Advisors Inc Boosts Position in Wipro Limited (NYSE:WIT)

Bell Investment Advisors Inc raised its holdings in shares of Wipro Limited (NYSE:WIT) by 100.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,262 shares of the information technology services provider’s stock after buying an additional 3,631 shares during the quarter. Bell Investment Advisors Inc’s holdings in Wipro were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ridgewood Investments LLC grew its holdings 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 acquiring an additional 3,557 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Wipro during the 4th quarter worth approximately $29,000. Freestone Capital Holdings LLC purchased a new position in shares of Wipro during the 4th quarter valued at approximately $36,000. Callan Family Office LLC acquired a new position in shares of Wipro in the 4th quarter valued at $37,000. Finally, Beacon Financial Group purchased a new stake in Wipro during the fourth quarter worth $38,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

NYSE:WIT opened at $3.28 on Monday. The company has a fifty day moving average of $3.53 and a two-hundred day moving average of $5.25. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The stock has a market capitalization of $34.25 billion, a PE 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 quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT) last released its quarterly 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 net margin of 13.96% and a return on equity of 15.46%. As a group, research analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

WIT has been the subject of a number of recent analyst reports. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wipro has an average rating of “Moderate Buy”.

Wipro 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.