Ritholtz Wealth Management Grows Stock Position in Wipro Limited (NYSE:WIT)

Ritholtz Wealth Management grew its position in Wipro Limited (NYSE:WIT) by 127.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,503 shares of the information technology services provider’s stock after purchasing an additional 145,629 shares during the period. Ritholtz Wealth Management’s holdings in Wipro were worth $919,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ridgewood Investments LLC grew its position in shares of Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Wipro during the fourth quarter valued at about $44,000. Fragasso Financial Advisors Inc acquired a new position in shares of Wipro during the fourth quarter valued at approximately $47,000. GAMMA Investing LLC boosted its stake in Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after buying an additional 2,426 shares in the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in shares of Wipro in the 4th quarter worth approximately $69,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Monday. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wipro has an average rating of “Moderate Buy”.

Wipro Stock Up 2.2 %

WIT opened at $3.52 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The business has a 50 day moving average price of $4.99 and a 200 day moving average price of $5.87. The firm has a market cap of $36.73 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 4.44 and a beta of 0.91. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.75.

Wipro (NYSE:WIT) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. Research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Wipro 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.