Blue Trust Inc. Has $124,000 Position in Wipro Limited (NYSE:WIT)

Blue Trust Inc. boosted its holdings in Wipro Limited (NYSE:WITFree Report) by 63.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,312 shares of the information technology services provider’s stock after buying an additional 8,634 shares during the period. Blue Trust Inc.’s holdings in Wipro were worth $124,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in Wipro by 4.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 47,432 shares of the information technology services provider’s stock worth $366,000 after buying an additional 2,234 shares during the period. Franklin Resources Inc. increased its position in Wipro by 10.1% in the 1st quarter. Franklin Resources Inc. now owns 24,557 shares of the information technology services provider’s stock worth $110,000 after buying an additional 2,259 shares during the period. HB Wealth Management LLC increased its position in Wipro by 13.9% in the 4th quarter. HB Wealth Management LLC now owns 18,814 shares of the information technology services provider’s stock worth $105,000 after buying an additional 2,302 shares during the period. Angeles Wealth Management LLC increased its position in Wipro by 9.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 28,844 shares of the information technology services provider’s stock worth $140,000 after buying an additional 2,473 shares during the period. Finally, Enterprise Financial Services Corp increased its position in Wipro by 24.2% in the 1st quarter. Enterprise Financial Services Corp now owns 13,130 shares of the information technology services provider’s stock worth $59,000 after buying an additional 2,555 shares during the period. 2.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WIT. BNP Paribas began coverage on Wipro in a research report on Wednesday, January 17th. They set an “underperform” rating and a $5.20 price objective on the stock. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Wedbush boosted their price objective on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research report on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating and one has given a buy rating to the company. Based on data from MarketBeat, Wipro presently has an average rating of “Reduce” and a consensus target price of $5.05.

Read Our Latest Analysis on Wipro

Wipro Stock Performance

Shares of NYSE:WIT opened at $5.61 on Wednesday. The business’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $5.36. Wipro Limited has a fifty-two week low of $4.32 and a fifty-two week high of $6.45. The stock has a market capitalization of $29.27 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28.

Wipro (NYSE:WITGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Wipro had a net margin of 12.42% and a return on equity of 15.68%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.76 billion. As a group, analysts predict that Wipro Limited will post 0.25 EPS for the current fiscal year.

Wipro Company Profile

(Free Report)

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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