Johnson Investment Counsel Inc. Takes $111,000 Position in Wipro Limited $WIT

Johnson Investment Counsel Inc. acquired a new stake in shares of Wipro Limited (NYSE:WIT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,600 shares of the information technology services provider’s stock, valued at approximately $111,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Wipro by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,692 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 5,103 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Wipro during the first quarter worth about $90,000. GAMMA Investing LLC increased its stake in Wipro by 182.7% in the 1st quarter. GAMMA Investing LLC now owns 65,291 shares of the information technology services provider’s stock worth $200,000 after acquiring an additional 42,192 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Wipro by 12.2% in the 2nd quarter. HB Wealth Management LLC now owns 53,733 shares of the information technology services provider’s stock valued at $162,000 after acquiring an additional 5,856 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Wipro by 78.8% during the second quarter. QRG Capital Management Inc. now owns 123,313 shares of the information technology services provider’s stock worth $372,000 after purchasing an additional 54,337 shares in the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Down 2.2%

Shares of NYSE:WIT opened at $2.68 on Friday. The stock has a market cap of $28.06 billion, a PE ratio of 17.29 and a beta of 1.00. The company’s fifty day moving average is $2.73 and its 200 day moving average is $2.85. Wipro Limited has a 52 week low of $2.58 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Wipro had a net margin of 15.07% and a return on equity of 15.94%. Sell-side analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WIT shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wipro in a research note on Wednesday, October 8th. Morgan Stanley raised shares of Wipro from an “underweight” rating to an “equal weight” rating in a report on Friday, June 20th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wipro presently has a consensus rating of “Reduce”.

About Wipro

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.