Prime Capital Investment Advisors LLC Has $97,000 Position in Wipro Limited (NYSE:WIT)

Prime Capital Investment Advisors LLC boosted its position in Wipro Limited (NYSE:WIT) by 31.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,992 shares of the information technology services provider’s stock after buying an additional 3,558 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Wipro were worth $97,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of WIT. GAMMA Investing LLC lifted its position in shares of Wipro by 37.8% in the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after purchasing an additional 2,426 shares in the last quarter. Mayflower Financial Advisors LLC bought a new stake in Wipro during the 2nd quarter worth about $64,000. Oppenheimer & Co. Inc. acquired a new position in shares of Wipro during the 1st quarter worth about $60,000. Abacus Wealth Partners LLC acquired a new stake in shares of Wipro in the third quarter valued at about $71,000. Finally, Werba Rubin Papier Wealth Management bought a new stake in Wipro during the third quarter worth about $71,000. Institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

WIT has been the subject of a number of analyst reports. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.60.

Wipro Stock Performance

WIT opened at $6.72 on Monday. Wipro Limited has a 12-month low of $4.67 and a 12-month high of $7.04. The stock has a market cap of $35.11 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 4.54 and a beta of 0.89. The business has a 50 day moving average of $6.54 and a 200-day moving average of $6.12. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.66 billion. On average, equities research analysts expect that Wipro Limited will post 0.27 earnings per share 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.