Venturi Wealth Management LLC Purchases 11,291 Shares of Wipro Limited (NYSE:WIT)

Venturi Wealth Management LLC lifted its position in Wipro Limited (NYSE:WIT) by 700.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,902 shares of the information technology services provider’s stock after purchasing an additional 11,291 shares during the quarter. Venturi Wealth Management LLC’s holdings in Wipro were worth $46,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ridgewood Investments LLC increased its holdings in shares of Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 3,557 shares during the period. Sierra Ocean LLC bought a new stake in shares of Wipro during the 4th quarter valued at about $29,000. Beacon Financial Group bought a new stake in shares of Wipro during the 4th quarter valued at about $38,000. Leo Wealth LLC bought a new stake in shares of Wipro during the 4th quarter valued at about $40,000. Finally, BOCHK Asset Management Ltd bought a new stake in shares of Wipro during the 4th quarter valued at about $42,000. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.7 %

Shares of WIT opened at $3.39 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The firm has a 50 day moving average price of $3.59 and a 200-day moving average price of $5.40. The firm has a market cap of $35.40 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 3.08 and a beta of 0.91.

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

Analysts Set New Price Targets

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

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.