OLD Mission Capital LLC Takes $695,000 Position in Wipro Limited (NYSE:WIT)

OLD Mission Capital LLC purchased a new stake in shares of Wipro Limited (NYSE:WIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 196,383 shares of the information technology services provider's stock, valued at approximately $695,000.

A number of other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC boosted its stake in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 3,631 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Wipro during the fourth quarter worth about $29,000. Farther Finance Advisors LLC boosted its stake in Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC acquired a new position in Wipro during the 4th quarter valued at approximately $36,000. 2.36% of the stock is currently owned by institutional investors.

Wipro Trading Down 3.7 %

NYSE:WIT traded down $0.11 on Thursday, hitting $2.78. The stock had a trading volume of 2,153,382 shares, compared to its average volume of 5,044,565. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 3.08 and a beta of 0.96. The company has a fifty day moving average price of $3.27 and a two-hundred day moving average price of $4.69. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07.

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, hitting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities research analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WIT. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Monday, January 20th. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday. Finally, UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wipro currently has an average rating of "Hold".

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.