Schechter Investment Advisors LLC Increases Holdings in Wipro Limited (NYSE:WIT)

Schechter Investment Advisors LLC boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 88.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,268 shares of the information technology services provider’s stock after purchasing an additional 95,880 shares during the period. Schechter Investment Advisors LLC’s holdings in Wipro were worth $723,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Glenmede Trust Co. NA increased its holdings in Wipro by 4.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 1,746 shares during the period. Franklin Resources Inc. increased its holdings in Wipro by 9.1% during the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after purchasing an additional 2,951 shares during the period. PDS Planning Inc increased its holdings in Wipro by 3.7% during the 3rd quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock valued at $598,000 after purchasing an additional 3,302 shares during the period. Cable Hill Partners LLC boosted its position in Wipro by 7.6% during the 3rd quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider’s stock valued at $309,000 after acquiring an additional 3,359 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in Wipro by 13.2% during the 3rd quarter. QRG Capital Management Inc. now owns 29,244 shares of the information technology services provider’s stock valued at $190,000 after acquiring an additional 3,408 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

WIT has been the topic of several research reports. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Wipro Stock Performance

Shares of WIT opened at $3.21 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $3.55 and its 200-day moving average price is $5.31. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The stock has a market cap of $33.52 billion, a P/E ratio of 22.10, a P/E/G ratio of 3.08 and a beta of 0.91.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.