Blue Trust Inc. Raises Holdings in Wipro Limited (NYSE:WIT)

Blue Trust Inc. boosted its position in Wipro Limited (NYSE:WIT - Free Report) by 207.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 183,008 shares of the information technology services provider's stock after purchasing an additional 123,478 shares during the period. Blue Trust Inc.'s holdings in Wipro were worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in Wipro by 47.2% during the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider's stock valued at $33,000 after purchasing an additional 1,858 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Wipro during the 1st quarter valued at approximately $60,000. Mayflower Financial Advisors LLC purchased a new position in Wipro during the 2nd quarter valued at approximately $64,000. Abacus Wealth Partners LLC purchased a new position in Wipro during the 3rd quarter valued at approximately $71,000. Finally, Atomi Financial Group Inc. grew its holdings in Wipro by 29.4% during the 1st quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider's stock valued at $77,000 after buying an additional 3,023 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIT has been the subject of several research analyst reports. Investec cut Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Nomura Securities upgraded Wipro to a "strong-buy" rating in a report on Tuesday, July 2nd. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a report on Friday, September 27th. Finally, Nomura initiated coverage on Wipro in a report on Tuesday, July 2nd. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $5.60.

Wipro Stock Down 1.2 %

Shares of WIT traded down $0.08 during trading hours on Monday, hitting $6.61. The company had a trading volume of 1,720,463 shares, compared to its average volume of 2,492,535. The company has a market capitalization of $34.53 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 4.61 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. Wipro Limited has a one year low of $4.48 and a one year high of $7.01. The company's fifty day moving average price is $6.35 and its two-hundred day moving average price is $5.95.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Wipro had a return on equity of 15.30% and a net margin of 13.23%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, equities analysts forecast that Wipro Limited will post 0.27 earnings per share 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.