PNC Financial Services Group Inc. Increases Stock Holdings in Wipro Limited (NYSE:WIT)

PNC Financial Services Group Inc. boosted its stake in shares of Wipro Limited (NYSE:WIT) by 91.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 209,397 shares of the information technology services provider’s stock after buying an additional 100,292 shares during the period. PNC Financial Services Group Inc.’s holdings in Wipro were worth $741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC boosted its stake 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 purchasing an additional 3,557 shares during the period. Sierra Ocean LLC purchased a new stake in Wipro in the 4th quarter worth about $29,000. Freestone Capital Holdings LLC purchased a new position in shares of Wipro during the fourth quarter valued at approximately $36,000. Callan Family Office LLC purchased a new position in shares of Wipro during the fourth quarter valued at approximately $37,000. Finally, Beacon Financial Group purchased a new stake in shares of Wipro in the fourth quarter worth approximately $38,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Wipro Trading Down 0.5 %

Shares of NYSE WIT opened at $3.06 on Tuesday. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $3.48 and a two-hundred day simple moving average of $5.12. The firm has a market cap of $31.95 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last released its quarterly earnings data 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 15.46% and a net margin of 13.96%. Analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

About Wipro

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.