Ieq Capital LLC Has $370,000 Stock Holdings in Wipro Limited (NYSE:WIT)

Ieq Capital LLC lifted its stake in shares of Wipro Limited (NYSE:WIT) by 162.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 104,654 shares of the information technology services provider’s stock after buying an additional 64,804 shares during the period. Ieq Capital LLC’s holdings in Wipro were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WIT. Glenmede Trust Co. NA grew its stake in Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after buying an additional 1,746 shares in the last quarter. BSW Wealth Partners boosted its position in shares of Wipro by 2.8% during the 3rd quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock worth $573,000 after acquiring an additional 2,418 shares in the last quarter. Franklin Resources Inc. increased its stake in Wipro by 9.1% in the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after acquiring an additional 2,951 shares during the last quarter. PDS Planning Inc raised its position in Wipro by 3.7% during the third quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock valued at $598,000 after purchasing an additional 3,302 shares in the last quarter. Finally, Cable Hill Partners LLC lifted its stake in Wipro by 7.6% during the third quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider’s stock worth $309,000 after purchasing an additional 3,359 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

NYSE WIT opened at $3.37 on Friday. The firm’s fifty day moving average price is $3.58 and its two-hundred day moving average price is $5.38. The stock has a market cap of $35.19 billion, a PE ratio of 23.21, a PEG ratio of 3.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS 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%. On average, equities analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. HSBC raised 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 report on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.