Sequoia Financial Advisors LLC Increases Stock Position in Wipro Limited (NYSE:WIT)

Sequoia Financial Advisors LLC boosted its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 101.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 381,476 shares of the information technology services provider's stock after acquiring an additional 191,725 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Wipro were worth $1,350,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ridgewood Investments LLC raised its position in Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc raised its position in Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Wipro in the 4th quarter worth $29,000. Freestone Capital Holdings LLC bought a new position in shares of Wipro in the 4th quarter worth $36,000. Finally, Callan Family Office LLC bought a new position in shares of Wipro in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th. HSBC raised Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. Finally, UBS Group raised 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 issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wipro has an average rating of "Moderate Buy".

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Wipro Price Performance

NYSE WIT traded up $0.08 on Wednesday, hitting $3.08. The company had a trading volume of 3,791,513 shares, compared to its average volume of 5,002,990. The company has a market capitalization of $32.16 billion, a PE ratio of 21.21, a PEG ratio of 3.08 and a beta of 0.94. The company's fifty day moving average price is $3.47 and its 200-day moving average price is $5.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate 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 year.

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.