Aprio Wealth Management LLC Invests $98,000 in Wipro Limited (NYSE:WIT)

Aprio Wealth Management LLC bought a new position in shares of Wipro Limited (NYSE:WIT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 15,088 shares of the information technology services provider’s stock, valued at approximately $98,000.

Other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in shares of Wipro by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock valued at $35,422,000 after purchasing an additional 2,437,802 shares in the last quarter. Millennium Management LLC increased its holdings in Wipro by 67.6% in the second quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock valued at $34,298,000 after buying an additional 2,267,995 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Wipro by 6,295.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,800,000 shares of the information technology services provider’s stock valued at $10,260,000 after acquiring an additional 1,771,854 shares during the period. Marshall Wace LLP purchased a new stake in shares of Wipro during the 2nd quarter worth approximately $7,994,000. Finally, Jane Street Group LLC grew its holdings in shares of Wipro by 292.0% in the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after acquiring an additional 1,001,644 shares during the period. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Down 0.5 %

Shares of NYSE:WIT opened at $6.36 on Wednesday. The company has a market capitalization of $33.19 billion, a P/E ratio of 25.44, a P/E/G ratio of 4.39 and a beta of 0.90. The stock’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $5.90. Wipro Limited has a 52-week low of $4.48 and a 52-week high of $7.01. 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 (NYSE:WIT) last released 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 company had revenue of $2.64 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WIT has been the topic of a number of research analyst reports. Nomura Securities upgraded Wipro to a “strong-buy” rating in a research report on Tuesday, July 2nd. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Friday, September 27th. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Nomura initiated coverage on shares of Wipro in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wipro has a consensus rating of “Hold” and an average price target of $5.60.

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.