PNC Financial Services Group Inc. raised its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 91.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,397 shares of the information technology services provider's stock after buying an additional 100,292 shares during the period. PNC Financial Services Group Inc.'s holdings in Wipro were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Glenmede Trust Co. NA lifted its position in Wipro by 4.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock worth $242,000 after buying an additional 1,746 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Wipro by 9.1% in the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock worth $233,000 after acquiring an additional 2,951 shares during the last quarter. Ridgewood Investments LLC lifted its position in shares of Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 3,557 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Wipro by 31.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 14,992 shares of the information technology services provider's stock valued at $97,000 after purchasing an additional 3,558 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Wipro by 110.1% in the fourth quarter. Allworth Financial LP now owns 13,836 shares of the information technology services provider's stock valued at $51,000 after purchasing an additional 7,251 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.
Wipro Stock Up 1.5 %
NYSE WIT traded up $0.05 during trading hours on Friday, reaching $3.05. 7,631,417 shares of the company's stock were exchanged, compared to its average volume of 5,038,862. 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 company has a market capitalization of $31.84 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The company's 50-day moving average is $3.45 and its two-hundred day moving average is $5.07. Wipro Limited has a one year low of $2.55 and a one year high of $3.79.
Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on WIT shares. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. Finally, UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".
Read Our Latest Analysis on Wipro
Wipro Company Profile
(
Free Report)
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.
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