Raymond James Financial Inc. Acquires New Holdings in Wipro Limited (NYSE:WIT)

Raymond James Financial Inc. purchased a new position in shares of Wipro Limited (NYSE:WIT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 470,843 shares of the information technology services provider’s stock, valued at approximately $1,667,000.

Several other institutional investors have also modified their holdings of WIT. Ridgewood Investments LLC lifted its stake in Wipro by 100.0% in 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 in the last quarter. Sierra Ocean LLC bought a new stake in Wipro in the 4th quarter valued at $29,000. Beacon Financial Group acquired a new position in Wipro in the 4th quarter worth $38,000. Leo Wealth LLC acquired a new position in Wipro in the 4th quarter worth $40,000. Finally, Flputnam Investment Management Co. bought a new position in Wipro during the 4th quarter worth about $40,000. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Up 0.8 %

Shares of Wipro stock opened at $3.06 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $3.41 and its 200-day moving average is $4.89. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The stock has a market cap of $31.95 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.08 and a beta of 0.94.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Wipro Company 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.