Balyasny Asset Management L.P. Invests $264,000 in Wipro Limited (NYSE:WIT)

Balyasny Asset Management L.P. purchased a new position in Wipro Limited (NYSE:WIT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 74,459 shares of the information technology services provider’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WIT. Bell Investment Advisors Inc boosted its stake in shares of Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock worth $26,000 after buying an additional 3,631 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Wipro in the 4th quarter worth $29,000. Farther Finance Advisors LLC boosted its stake in shares of Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after buying an additional 4,851 shares during the last quarter. Freestone Capital Holdings LLC purchased a new position in shares of Wipro in the 4th quarter worth $36,000. Finally, Callan Family Office LLC purchased a new position in shares of Wipro in the 4th quarter worth $37,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Performance

Shares of NYSE WIT opened at $2.96 on Friday. The stock has a market cap of $30.91 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a fifty day moving average price of $2.92 and a 200-day moving average price of $4.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WIT has been the topic of a number of research reports. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wipro has an average rating of “Hold”.

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.