Corient Private Wealth LLC Buys 297,756 Shares of Wipro Limited (NYSE:WIT)

Corient Private Wealth LLC lifted its holdings in Wipro Limited (NYSE:WIT - Free Report) by 98.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 599,769 shares of the information technology services provider's stock after purchasing an additional 297,756 shares during the period. Corient Private Wealth LLC's holdings in Wipro were worth $2,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in 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 purchasing an additional 54,791 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Wipro by 42.3% in the 3rd quarter. Natixis Advisors LLC now owns 160,905 shares of the information technology services provider's stock worth $1,043,000 after buying an additional 47,800 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Wipro in the third quarter valued at approximately $610,000. Citigroup Inc. increased its position in Wipro by 8.5% in the third quarter. Citigroup Inc. now owns 842,893 shares of the information technology services provider's stock worth $5,462,000 after buying an additional 65,981 shares during the period. Finally, Cerity Partners LLC boosted its position in Wipro by 40.4% during the 3rd quarter. Cerity Partners LLC now owns 229,004 shares of the information technology services provider's stock worth $1,484,000 after acquiring an additional 65,922 shares during the period. Institutional investors and hedge funds own 2.36% of the company's stock.

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Wipro Stock Down 3.0 %

Wipro stock traded down $0.10 during mid-day trading on Friday, reaching $3.04. The stock had a trading volume of 2,516,580 shares, compared to its average volume of 5,047,036. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The stock's 50-day simple moving average is $3.42 and its 200-day simple moving average is $4.95. The firm has a market capitalization of $31.74 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT - Get Free Report) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, sell-side analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

WIT has been the subject of several research reports. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. Finally, HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.