Newport Capital Group LLC Purchases 14,604 Shares of Wipro Limited (NYSE:WIT)

Newport Capital Group LLC raised its position in Wipro Limited (NYSE:WIT) by 100.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,208 shares of the information technology services provider’s stock after acquiring an additional 14,604 shares during the period. Newport Capital Group LLC’s holdings in Wipro were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Intelligence Driven Advisers LLC acquired a new position in shares of Wipro during the fourth quarter valued at about $63,000. Avestar Capital LLC purchased a new stake in Wipro during the 4th quarter worth approximately $54,000. Van ECK Associates Corp increased its stake in Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock valued at $1,235,000 after purchasing an additional 165,076 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Wipro by 109.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,550 shares of the information technology services provider’s stock worth $994,000 after buying an additional 145,875 shares during the last quarter. Finally, Beacon Financial Group acquired a new stake in shares of Wipro during the fourth quarter worth $38,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Wipro Stock Up 0.1 %

Wipro stock opened at $3.64 on Friday. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The firm has a market cap of $38.01 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91. The business’s 50-day moving average price is $3.88 and its 200 day moving average price is $5.56. 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 (NYSE:WIT) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

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.