18,567 Shares in Wipro Limited (NYSE:WIT) Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC purchased a new position in shares of Wipro Limited (NYSE:WIT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,567 shares of the information technology services provider’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ridgewood Investments LLC boosted its holdings in Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Wipro in the 4th quarter valued at approximately $43,000. Fulton Bank N.A. purchased a new stake in shares of Wipro in the 4th quarter valued at approximately $44,000. Fragasso Financial Advisors Inc purchased a new stake in shares of Wipro in the 4th quarter valued at approximately $47,000. Finally, Clarendon Private LLC purchased a new stake in Wipro during the 4th quarter worth approximately $52,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Wipro Price Performance

Wipro stock opened at $3.68 on Tuesday. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a 50 day moving average price of $4.42 and a 200 day moving average price of $5.69. The company has a market cap of $38.43 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.10 and a beta of 0.91. 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 (NYSE:WIT) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Sell-side analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

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.