Cerity Partners LLC Purchases 376,892 Shares of Wipro Limited (NYSE:WIT)

Cerity Partners LLC increased its holdings in Wipro Limited (NYSE:WIT) by 63.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 970,796 shares of the information technology services provider’s stock after purchasing an additional 376,892 shares during the period. Cerity Partners LLC’s holdings in Wipro were worth $2,971,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after buying an additional 4,851 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Wipro in the fourth quarter worth about $35,000. KLP Kapitalforvaltning AS bought a new stake in Wipro during the fourth quarter worth approximately $37,000. CogentBlue Wealth Advisors LLC purchased a new stake in Wipro during the first quarter valued at approximately $37,000. Finally, Legacy Advisors LLC bought a new stake in shares of Wipro in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 2.0%

WIT opened at $3.00 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72. The stock’s 50 day moving average price is $2.97 and its 200-day moving average price is $3.14. Wipro Limited has a one year low of $2.63 and a one year high of $3.79. The stock has a market cap of $31.38 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 8.62 and a beta of 1.02.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 16.07% and a net margin of 15.07%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $219.23 billion. On average, equities analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

WIT has been the topic of several recent research reports. Wall Street Zen upgraded Wipro from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Jefferies Financial Group cut shares of Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley upgraded shares of Wipro from an “underweight” rating to an “equal weight” rating in a report on Friday, June 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Wipro Company 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.