BSW Wealth Partners Boosts Stock Position in Wipro Limited (NYSE:WIT)

BSW Wealth Partners lifted its position in Wipro Limited (NYSE:WIT) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,931 shares of the information technology services provider’s stock after buying an additional 3,393 shares during the quarter. BSW Wealth Partners’ holdings in Wipro were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Wipro by 23.1% in the 2nd quarter. BlackRock Inc. now owns 29,106,981 shares of the information technology services provider’s stock valued at $137,385,000 after buying an additional 5,454,757 shares during the period. Morgan Stanley increased its holdings in Wipro by 23.5% during the 4th quarter. Morgan Stanley now owns 13,757,038 shares of the information technology services provider’s stock worth $64,108,000 after purchasing an additional 2,621,127 shares during the period. Vanguard Group Inc. increased its holdings in Wipro by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock worth $60,368,000 after purchasing an additional 553,433 shares during the period. Goldman Sachs Group Inc. increased its holdings in Wipro by 19.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 12,301,682 shares of the information technology services provider’s stock worth $58,064,000 after purchasing an additional 1,977,079 shares during the period. Finally, State Street Corp increased its holdings in Wipro by 1.3% during the 1st quarter. State Street Corp now owns 10,370,638 shares of the information technology services provider’s stock worth $79,953,000 after purchasing an additional 134,870 shares during the period. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on WIT. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. BNP Paribas began coverage on Wipro in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.20 price target on the stock. Wedbush upped their price target on Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a report on Tuesday, January 16th. Finally, StockNews.com downgraded Wipro from a “buy” rating to a “hold” rating in a report on Friday. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $5.05.

Wipro Trading Down 2.4 %

WIT opened at $5.62 on Tuesday. Wipro Limited has a one year low of $4.32 and a one year high of $6.45. The company has a market cap of $29.32 billion, a P/E ratio of 22.48, a PEG ratio of 2.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The business’s 50-day simple moving average is $5.98 and its 200-day simple moving average is $5.37.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 12th. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Wipro had a net margin of 12.42% and a return on equity of 15.68%. As a group, equities research analysts expect that Wipro Limited will post 0.25 EPS for the current fiscal year.

Wipro Company Profile

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.