Ballentine Partners LLC Grows Position in Wipro Limited (NYSE:WIT)

Ballentine Partners LLC raised its position in Wipro Limited (NYSE:WIT) by 112.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 504,493 shares of the information technology services provider’s stock after purchasing an additional 267,036 shares during the period. Ballentine Partners LLC’s holdings in Wipro were worth $1,786,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ridgewood Investments LLC grew its holdings in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Wipro in the fourth quarter valued at $44,000. Fragasso Financial Advisors Inc acquired a new stake in Wipro in the fourth quarter valued at $47,000. GAMMA Investing LLC grew its holdings in Wipro by 37.8% in the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new stake in Wipro in the fourth quarter valued at $63,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 2.2 %

Shares of NYSE:WIT opened at $3.52 on Wednesday. The stock’s 50-day moving average price is $4.99 and its two-hundred day moving average price is $5.87. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.75. The firm has a market cap of $36.73 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 4.44 and a beta of 0.91.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. On average, research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday. Investec lowered Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.