87,096 Shares in Wipro Limited (NYSE:WIT) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 87,096 shares of the information technology services provider’s stock, valued at approximately $531,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Wipro by 47.2% during the first quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after buying an additional 1,858 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Wipro in the first quarter valued at approximately $60,000. Mayflower Financial Advisors LLC acquired a new position in shares of Wipro during the 2nd quarter worth $64,000. Atomi Financial Group Inc. grew its position in Wipro by 29.4% during the first quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider’s stock worth $77,000 after buying an additional 3,023 shares during the period. Finally, Advisors Preferred LLC purchased a new position in Wipro in the 1st quarter valued at approximately $79,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Trading Down 0.6 %

Shares of NYSE WIT opened at $6.43 on Tuesday. The business has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $5.87. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 4.49 and a beta of 0.90. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.08. Wipro Limited has a 12 month low of $4.48 and a 12 month high of $7.01.

Wipro (NYSE:WIT) last posted its earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Wipro had a net margin of 12.57% and a return on equity of 15.01%. During the same period in the previous year, the company earned $0.06 earnings per share. Sell-side analysts predict that Wipro Limited will post 0.27 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Nomura Securities raised shares of Wipro to a “strong-buy” rating in a research report on Tuesday, July 2nd. Nomura assumed coverage on shares of Wipro in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.60.

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.