Simon Quick Advisors LLC Purchases 38,644 Shares of Wipro Limited (NYSE:WIT)

Simon Quick Advisors LLC boosted its position in Wipro Limited (NYSE:WIT) by 107.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,510 shares of the information technology services provider’s stock after buying an additional 38,644 shares during the period. Simon Quick Advisors LLC’s holdings in Wipro were worth $264,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC lifted its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Wipro by 37.8% in the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after buying an additional 2,426 shares during the period. Abacus Wealth Partners LLC purchased a new position in shares of Wipro in the third quarter valued at $71,000. Werba Rubin Papier Wealth Management bought a new stake in shares of Wipro during the third quarter valued at about $71,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Wipro in the fourth quarter worth $44,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 2.0 %

Wipro stock opened at $3.74 on Friday. The stock has a fifty day moving average of $4.86 and a 200 day moving average of $5.84. The stock has a market cap of $39.03 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. Wipro Limited has a one year low of $2.55 and a one year high of $3.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69.

Wipro (NYSE:WIT) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.71%. As a group, sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

WIT has been the topic of several research reports. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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.