Schechter Investment Advisors LLC Purchases 95,880 Shares of Wipro Limited (NYSE:WIT)

Schechter Investment Advisors LLC grew its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 88.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,268 shares of the information technology services provider's stock after buying an additional 95,880 shares during the quarter. Schechter Investment Advisors LLC's holdings in Wipro were worth $723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ridgewood Investments LLC increased its stake in shares of Wipro by 100.0% during the 4th 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 during the last quarter. Sierra Ocean LLC acquired a new position in shares of Wipro during the 4th quarter worth about $29,000. Beacon Financial Group acquired a new position in shares of Wipro during the 4th quarter worth about $38,000. Leo Wealth LLC acquired a new position in shares of Wipro during the 4th quarter worth about $40,000. Finally, Flputnam Investment Management Co. acquired a new position in shares of Wipro during the 4th quarter worth about $40,000. 2.36% of the stock is owned by institutional investors.

Wipro Stock Performance

WIT traded down $0.01 on Friday, reaching $3.28. The company had a trading volume of 5,148,603 shares, compared to its average volume of 4,946,126. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The stock has a market cap of $34.25 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.08 and a beta of 0.94. The company's fifty day moving average is $3.53 and its 200 day moving average is $5.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

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Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS 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%. As a group, analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Finally, HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wipro has a consensus rating of "Moderate Buy".

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.