Creative Planning Increases Stake in Wipro Limited (NYSE:WIT)

Creative Planning raised its stake in Wipro Limited (NYSE:WIT - Free Report) by 24.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,337,344 shares of the information technology services provider's stock after purchasing an additional 263,925 shares during the period. Creative Planning's holdings in Wipro were worth $8,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WIT. Wellington Management Group LLP grew its stake in shares of Wipro by 44.0% during the fourth quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider's stock worth $10,396,000 after acquiring an additional 570,001 shares during the last quarter. GAMMA Investing LLC increased its holdings in Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider's stock worth $33,000 after buying an additional 1,858 shares during the period. DGS Capital Management LLC increased its holdings in Wipro by 10.1% in the 1st quarter. DGS Capital Management LLC now owns 154,646 shares of the information technology services provider's stock worth $889,000 after buying an additional 14,155 shares during the period. Janiczek Wealth Management LLC increased its holdings in Wipro by 9.7% in the 1st quarter. Janiczek Wealth Management LLC now owns 115,949 shares of the information technology services provider's stock worth $667,000 after buying an additional 10,242 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in Wipro by 8.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 227,969 shares of the information technology services provider's stock worth $1,311,000 after buying an additional 18,374 shares during the period. Hedge funds and other institutional investors own 2.36% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WIT. Nomura began coverage on shares of Wipro in a report on Tuesday, July 2nd. They issued a "buy" rating on the stock. Nomura Securities raised shares of Wipro to a "strong-buy" rating in a research note on Tuesday, July 2nd. StockNews.com cut shares of Wipro from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Investec cut shares of Wipro from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $5.60.

Wipro Stock Performance

Shares of NYSE WIT traded up $0.02 during midday trading on Wednesday, reaching $6.61. 2,471,769 shares of the stock were exchanged, compared to its average volume of 2,492,308. The firm has a market cap of $34.50 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 4.61 and a beta of 0.90. Wipro Limited has a twelve month low of $4.48 and a twelve month high of $7.01. The firm has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $5.96. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.08.

About Wipro

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.