Ellevest Inc. Makes New Investment in Wipro Limited (NYSE:WIT)

Ellevest Inc. acquired a new position in shares of Wipro Limited (NYSE:WIT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 16,394 shares of the information technology services provider’s stock, valued at approximately $58,000.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Wipro by 161.3% in the fourth quarter. GAMMA Investing LLC now owns 23,099 shares of the information technology services provider’s stock valued at $82,000 after purchasing an additional 14,258 shares in the last quarter. Diversified Trust Co grew its position in shares of Wipro by 361.4% in the fourth quarter. Diversified Trust Co now owns 89,056 shares of the information technology services provider’s stock valued at $315,000 after purchasing an additional 69,755 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Wipro in the fourth quarter valued at approximately $44,000. Aprio Wealth Management LLC grew its position in shares of Wipro by 246.9% in the fourth quarter. Aprio Wealth Management LLC now owns 52,339 shares of the information technology services provider’s stock valued at $185,000 after purchasing an additional 37,251 shares in the last quarter. Finally, Fragasso Financial Advisors Inc purchased a new stake in shares of Wipro in the fourth quarter valued at approximately $47,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WIT. Jefferies Financial Group lowered Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Wipro Trading Up 0.7%

WIT opened at $2.82 on Monday. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The stock has a market capitalization of $29.50 billion, a PE ratio of 19.45, a P/E/G ratio of 3.08 and a beta of 1.03. The business’s 50 day moving average price is $2.95 and its 200 day moving average price is $4.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. As a group, equities research analysts expect that Wipro Limited will post 0.14 EPS for the current year.

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.