Greenleaf Trust Buys 90,666 Shares of Wipro Limited (NYSE:WIT)

Greenleaf Trust raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 100.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,332 shares of the information technology services provider's stock after purchasing an additional 90,666 shares during the period. Greenleaf Trust's holdings in Wipro were worth $642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Glenmede Trust Co. NA grew its holdings 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 acquiring an additional 1,746 shares during the period. BSW Wealth Partners boosted its position in Wipro by 2.8% during the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider's stock valued at $573,000 after purchasing an additional 2,418 shares during the last quarter. GAMMA Investing LLC increased its holdings in Wipro by 37.8% in the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider's stock worth $57,000 after buying an additional 2,426 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Wipro by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock valued at $233,000 after purchasing an additional 2,951 shares during the last quarter. Finally, PDS Planning Inc increased its holdings in shares of Wipro by 3.7% during 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. 2.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Wipro Stock Performance

WIT stock traded down $0.03 during trading hours on Friday, reaching $3.67. The stock had a trading volume of 4,723,880 shares, compared to its average volume of 6,630,164. The stock has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $5.61. The stock has a market capitalization of $38.38 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91. 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 Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly 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 net margin of 13.96% and a return on equity of 15.46%. Analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.