United Capital Financial Advisors LLC Purchases 41,083 Shares of Wipro Limited (NYSE:WIT)

United Capital Financial Advisors LLC boosted its position in Wipro Limited (NYSE:WIT) by 89.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,104 shares of the information technology services provider’s stock after purchasing an additional 41,083 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Wipro were worth $308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC boosted its position in shares of Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 3,557 shares during the period. Bell Investment Advisors Inc boosted its holdings in Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC acquired a new position in shares of Wipro during the 4th quarter worth approximately $29,000. Farther Finance Advisors LLC increased its holdings in shares of Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $36,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Wipro Trading Up 1.1 %

Shares of WIT stock opened at $2.73 on Tuesday. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The stock’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $4.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market cap of $28.55 billion, a PE ratio of 18.83, a P/E/G ratio of 3.08 and a beta of 0.96.

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

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.