Blue Trust Inc. Has $124,000 Position in Wipro Limited (NYSE:WIT)

Blue Trust Inc. increased its position in shares of Wipro Limited (NYSE:WITFree Report) by 63.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,312 shares of the information technology services provider’s stock after purchasing an additional 8,634 shares during the period. Blue Trust Inc.’s holdings in Wipro were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WIT. 1832 Asset Management L.P. bought a new position in Wipro during the 1st quarter worth $26,000. AlphaQ Advisors LLC bought a new position in Wipro during the 3rd quarter worth $48,000. Marks Group Wealth Management Inc bought a new position in Wipro during the 3rd quarter worth $49,000. Enterprise Financial Services Corp bought a new position in Wipro during the 4th quarter worth $49,000. Finally, First Affirmative Financial Network bought a new position in Wipro during the 3rd quarter worth $53,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Trading Down 0.9 %

Shares of WIT opened at $5.61 on Wednesday. Wipro Limited has a 52-week low of $4.32 and a 52-week high of $6.45. The business’s fifty day moving average is $5.98 and its 200-day moving average is $5.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The firm has a market cap of $29.27 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.51 and a beta of 0.87.

Wipro (NYSE:WITGet Free Report) last issued its quarterly earnings results on Friday, January 12th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Wipro had a net margin of 12.42% and a return on equity of 15.68%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.76 billion. Equities analysts anticipate that Wipro Limited will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. BNP Paribas assumed coverage on Wipro in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.20 price objective on the stock. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Wedbush lifted their price target on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research note on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wipro has an average rating of “Reduce” and an average target price of $5.05.

Check Out Our Latest Research Report on WIT

About Wipro

(Free Report)

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.

Featured Stories

Want to see what other hedge funds are holding WIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wipro Limited (NYSE:WITFree Report).

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

Receive News & Ratings for Wipro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro and related companies with MarketBeat.com's FREE daily email newsletter.