Schechter Investment Advisors LLC Acquires 95,880 Shares of Wipro Limited (NYSE:WIT)

Schechter Investment Advisors LLC boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 88.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,268 shares of the information technology services provider’s stock after buying an additional 95,880 shares during the period. Schechter Investment Advisors LLC’s holdings in Wipro were worth $723,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC boosted its stake 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 valued at $25,000 after buying an additional 3,557 shares during the period. Sierra Ocean LLC bought a new stake in Wipro during the fourth quarter valued at $29,000. Beacon Financial Group bought a new stake in Wipro during the fourth quarter valued at $38,000. Leo Wealth LLC bought a new stake in Wipro during the fourth quarter valued at $40,000. Finally, Flputnam Investment Management Co. bought a new stake in Wipro during the fourth quarter valued at $40,000. Institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WIT. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Wipro Trading Down 1.4 %

NYSE WIT opened at $3.21 on Wednesday. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 3.08 and a beta of 0.91. The stock’s 50-day simple moving average is $3.55 and its two-hundred day simple moving average is $5.31. 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 twelve month low of $2.55 and a twelve month high of $3.79.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 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%. Research analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.