36,386 Shares in Wipro Limited (WIT) Acquired by Raymond James & Associates

Raymond James & Associates bought a new stake in Wipro Limited (NYSE:WIT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,386 shares of the information technology services provider’s stock, valued at approximately $187,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WIT. Segantii Capital Management Ltd acquired a new stake in shares of Wipro in the fourth quarter valued at about $3,635,000. Fisher Asset Management LLC lifted its stake in shares of Wipro by 16.1% in the fourth quarter. Fisher Asset Management LLC now owns 4,608,317 shares of the information technology services provider’s stock worth $23,641,000 after buying an additional 637,536 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Wipro in the third quarter worth about $2,373,000. JPMorgan Chase & Co. lifted its stake in shares of Wipro by 214.7% in the third quarter. JPMorgan Chase & Co. now owns 315,280 shares of the information technology services provider’s stock worth $1,643,000 after buying an additional 215,109 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in shares of Wipro by 11.5% in the fourth quarter. ClariVest Asset Management LLC now owns 1,570,200 shares of the information technology services provider’s stock worth $8,055,000 after buying an additional 161,400 shares in the last quarter. Institutional investors and hedge funds own 1.72% of the company’s stock.

Shares of WIT stock opened at $4.25 on Thursday. The company has a current ratio of 2.79, a quick ratio of 2.77 and a debt-to-equity ratio of 0.09. Wipro Limited has a 12 month low of $3.38 and a 12 month high of $4.42. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.73 and a beta of 0.48.

Wipro (NYSE:WIT) last issued its earnings results on Tuesday, April 16th. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Wipro had a return on equity of 16.16% and a net margin of 14.51%. The firm had revenue of $150.06 billion for the quarter, compared to analysts’ expectations of $150.97 billion. During the same period last year, the firm earned $9.08 earnings per share. Wipro’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts anticipate that Wipro Limited will post 0.21 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the stock. Credit Suisse Group downgraded shares of Wipro from a “neutral” rating to an “underperform” rating and set a $5.78 price target on the stock. in a research note on Tuesday, February 26th. Zacks Investment Research raised shares of Wipro from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Saturday, January 26th. TheStreet raised shares of Wipro from a “c” rating to a “b-” rating in a research note on Friday, January 18th. Deutsche Bank started coverage on shares of Wipro in a research note on Thursday, January 10th. They set a “hold” rating on the stock. Finally, Macquarie downgraded shares of Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.18.

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Wipro Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.

See Also: Diversification

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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