Tobam Makes New $261,000 Investment in Wipro Limited (NYSE:WIT)

Tobam bought a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 73,674 shares of the information technology services provider's stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WIT. Migdal Insurance & Financial Holdings Ltd. grew its position in Wipro by 19.0% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 513,752 shares of the information technology services provider's stock worth $1,819,000 after buying an additional 81,876 shares in the last quarter. Leo Wealth LLC bought a new position in shares of Wipro in the fourth quarter worth $40,000. Adero Partners LLC acquired a new position in Wipro in the fourth quarter valued at about $79,000. Bleakley Financial Group LLC lifted its position in Wipro by 102.0% during the fourth quarter. Bleakley Financial Group LLC now owns 32,974 shares of the information technology services provider's stock worth $117,000 after purchasing an additional 16,651 shares during the period. Finally, Choreo LLC grew its stake in Wipro by 94.6% during the fourth quarter. Choreo LLC now owns 25,212 shares of the information technology services provider's stock worth $89,000 after buying an additional 12,259 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Price Performance

Wipro stock traded down $0.02 during mid-day trading on Tuesday, reaching $3.68. The company had a trading volume of 2,473,594 shares, compared to its average volume of 5,880,137. The business has a fifty day simple moving average of $4.02 and a 200 day simple moving average of $5.59. The company has a market cap of $38.43 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.13 and a beta of 0.91. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.46% and a net margin of 13.96%. On average, equities research analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WIT shares. HSBC upgraded shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Finally, UBS Group raised Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.