Bank of New York Mellon Corp Buys 10,851 Shares of Wipro Limited (NYSE:WIT)

Bank of New York Mellon Corp increased its position in shares of Wipro Limited (NYSE:WIT) by 74.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,451 shares of the information technology services provider’s stock after buying an additional 10,851 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wipro were worth $90,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC lifted its position in shares of Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 3,557 shares during the period. Sierra Ocean LLC bought a new position in Wipro in the fourth quarter worth $29,000. Beacon Financial Group bought a new position in Wipro in the fourth quarter worth $38,000. Leo Wealth LLC acquired a new stake in Wipro during the fourth quarter worth $40,000. Finally, BOCHK Asset Management Ltd bought a new stake in Wipro in the 4th quarter valued at $42,000. 2.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on WIT shares. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. 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 issued a strong buy rating to the company. According to MarketBeat.com, Wipro presently has a consensus rating of “Moderate Buy”.

Wipro Stock Down 3.0 %

Shares of NYSE WIT opened at $3.04 on Monday. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The business has a fifty day moving average of $3.41 and a two-hundred day moving average of $4.91. The stock has a market cap of $31.74 billion, a PE ratio of 20.93, a PEG ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (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 expect that Wipro Limited will post 0.14 earnings per share for the current fiscal 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.