Wipro Limited (NYSE:WIT) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in shares of Wipro Limited (NYSE:WIT) by 92.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,687 shares of the information technology services provider’s stock after purchasing an additional 47,788 shares during the period. EverSource Wealth Advisors LLC’s holdings in Wipro were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WIT. Ridgewood Investments LLC grew its stake in shares of Wipro by 100.0% during 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 in the last quarter. Bell Investment Advisors Inc boosted its holdings in Wipro by 100.0% in the fourth 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 last quarter. Sierra Ocean LLC acquired a new stake in Wipro during the 4th quarter valued at approximately $29,000. Freestone Capital Holdings LLC purchased a new stake in Wipro during the 4th quarter worth approximately $36,000. Finally, Callan Family Office LLC acquired a new position in shares of Wipro in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Up 1.5 %

Shares of NYSE:WIT opened at $3.08 on Friday. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The company’s fifty day moving average is $3.49 and its two-hundred day moving average is $5.15. 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 stock has a market capitalization of $32.16 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (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%. Equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

WIT has been the subject of a number of research analyst reports. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wipro presently has an average rating of “Moderate Buy”.

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.