15,460 Shares in Wipro Limited (NYSE:WIT) Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, HoldingsChannel reports. The firm acquired 15,460 shares of the information technology services provider’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TCW Group Inc. increased its position in Wipro by 63.3% during the 4th quarter. TCW Group Inc. now owns 384,328 shares of the information technology services provider’s stock worth $1,361,000 after purchasing an additional 148,978 shares in the last quarter. Sunpointe LLC purchased a new stake in Wipro during the 4th quarter worth about $47,000. Ieq Capital LLC increased its position in Wipro by 162.6% during the 4th quarter. Ieq Capital LLC now owns 104,654 shares of the information technology services provider’s stock worth $370,000 after purchasing an additional 64,804 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its stake in Wipro by 102.4% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 22,292 shares of the information technology services provider’s stock worth $79,000 after buying an additional 11,277 shares during the last quarter. Finally, Atlas Legacy Advisors LLC acquired a new stake in Wipro in the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Wipro Stock Performance

NYSE WIT opened at $3.39 on Thursday. The firm has a market capitalization of $35.45 billion, a P/E ratio of 23.38, a P/E/G ratio of 3.08 and a beta of 0.91. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The business’s 50-day simple moving average is $3.58 and its 200-day simple moving average is $5.39.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities analysts predict that Wipro Limited will post 0.14 EPS for the current 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.