Bleakley Financial Group LLC Increases Holdings in Wipro Limited (NYSE:WIT)

Bleakley Financial Group LLC grew its holdings in Wipro Limited (NYSE:WIT) by 102.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,974 shares of the information technology services provider’s stock after acquiring an additional 16,651 shares during the quarter. Bleakley Financial Group LLC’s holdings in Wipro were worth $117,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WIT. Ridgewood Investments LLC lifted its position in shares of Wipro by 100.0% during the 4th 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 during the last quarter. BOCHK Asset Management Ltd acquired a new stake in shares of Wipro during the fourth quarter worth about $42,000. PFG Investments LLC purchased a new position in Wipro during the 4th quarter worth approximately $43,000. Fulton Bank N.A. purchased a new stake in Wipro in the fourth quarter valued at approximately $44,000. Finally, Fragasso Financial Advisors Inc acquired a new position in shares of Wipro in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Wipro Trading Down 1.4 %

Shares of WIT stock opened at $3.63 on Thursday. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The business’s fifty day moving average price is $3.95 and its 200 day moving average price is $5.57. The firm has a market capitalization of $37.96 billion, a PE ratio of 25.04, a P/E/G ratio of 3.13 and a beta of 0.91.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, sell-side analysts forecast that Wipro Limited will post 0.14 EPS 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.