Canopy Partners LLC Has $356,000 Stock Position in Wipro Limited (NYSE:WIT)

Canopy Partners LLC lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 101.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,454 shares of the information technology services provider’s stock after acquiring an additional 50,680 shares during the period. Canopy Partners LLC’s holdings in Wipro were worth $356,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WIT. FMR LLC lifted its holdings in Wipro by 62.0% during the 3rd quarter. FMR LLC now owns 166,071 shares of the information technology services provider’s stock worth $1,076,000 after buying an additional 63,586 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Wipro in the 3rd quarter valued at approximately $136,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Wipro by 89.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,557 shares of the information technology services provider’s stock worth $1,643,000 after purchasing an additional 119,883 shares during the period. Centiva Capital LP bought a new position in shares of Wipro during the third quarter worth about $140,000. Finally, Quantinno Capital Management LP bought a new position in shares of Wipro during the 3rd quarter worth approximately $702,000. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 4.1 %

WIT opened at $2.80 on Monday. The firm has a market capitalization of $29.28 billion, a PE ratio of 19.31, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The company’s 50-day moving average is $3.35 and its 200 day moving average is $4.79.

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

Analyst Ratings Changes

A number of equities analysts recently commented on WIT shares. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.