Cable Hill Partners LLC Raises Holdings in Wipro Limited (NYSE:WIT)

Cable Hill Partners LLC boosted its stake in shares of Wipro Limited (NYSE:WIT) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 47,740 shares of the information technology services provider’s stock after acquiring an additional 3,359 shares during the period. Cable Hill Partners LLC’s holdings in Wipro were worth $309,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Wipro by 36.2% in the 3rd quarter. Victory Capital Management Inc. now owns 206,106 shares of the information technology services provider’s stock valued at $1,336,000 after acquiring an additional 54,791 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Wipro by 31.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,992 shares of the information technology services provider’s stock valued at $97,000 after acquiring an additional 3,558 shares during the last quarter. Catalytic Wealth RIA LLC purchased a new position in shares of Wipro in the 3rd quarter valued at about $81,000. Verdence Capital Advisors LLC purchased a new position in shares of Wipro in the 3rd quarter valued at about $211,000. Finally, PDS Planning Inc increased its holdings in shares of Wipro by 3.7% in the 3rd quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock valued at $598,000 after acquiring an additional 3,302 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 1.1 %

NYSE:WIT opened at $6.80 on Friday. The stock’s 50 day moving average price is $6.52 and its 200 day moving average price is $6.09. The company has a market capitalization of $35.50 billion, a PE ratio of 25.17, a P/E/G ratio of 4.64 and a beta of 0.89. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52-week low of $4.63 and a 52-week high of $7.04.

Wipro (NYSE:WIT) last released its quarterly earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, research analysts anticipate that Wipro Limited will post 0.27 EPS for the current year.

Analyst Ratings Changes

WIT has been the topic of a number of recent analyst reports. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wipro currently has a consensus rating of “Hold” and a consensus target price of $5.60.

Wipro 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.