Creative Planning Has $8.67 Million Holdings in Wipro Limited (NYSE:WIT)

Creative Planning lifted its stake in shares of Wipro Limited (NYSE:WIT) by 24.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,337,344 shares of the information technology services provider’s stock after buying an additional 263,925 shares during the period. Creative Planning’s holdings in Wipro were worth $8,666,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted 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 valued at $33,000 after buying an additional 1,858 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Wipro in the first quarter worth $60,000. Mayflower Financial Advisors LLC purchased a new position in Wipro in the second quarter worth $64,000. Abacus Wealth Partners LLC purchased a new position in Wipro in the third quarter worth $71,000. Finally, Atomi Financial Group Inc. raised its stake in shares of Wipro by 29.4% in the first quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider’s stock valued at $77,000 after buying an additional 3,023 shares during the period. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

WIT opened at $6.59 on Wednesday. The stock has a 50-day moving average price of $6.36 and a 200-day moving average price of $5.96. Wipro Limited has a 12-month low of $4.48 and a 12-month high of $7.01. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $34.43 billion, a P/E ratio of 24.41, a PEG ratio of 4.61 and a beta of 0.90.

Analysts Set New Price Targets

A number of analysts recently issued reports on WIT shares. StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a research note on Monday. Nomura started coverage on Wipro in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. Investec lowered Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Nomura Securities upgraded Wipro to a “strong-buy” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.