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

Prime Capital Investment Advisors LLC lifted its position in shares of Wipro Limited (NYSE:WIT) by 31.1% in the third quarter, Holdings Channel reports. The institutional investor owned 14,992 shares of the information technology services provider’s stock after acquiring an additional 3,558 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Wipro were worth $97,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after buying an additional 2,426 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Wipro in the first quarter valued at about $60,000. Mayflower Financial Advisors LLC acquired a new position in Wipro in the second quarter valued at about $64,000. Abacus Wealth Partners LLC acquired a new position in Wipro in the third quarter valued at about $71,000. Finally, Werba Rubin Papier Wealth Management acquired a new position in Wipro in the third quarter valued at about $71,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Ratings Changes

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

Wipro Stock Performance

NYSE:WIT opened at $6.72 on Monday. The stock has a market cap of $35.11 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 4.54 and a beta of 0.89. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $6.54 and its 200-day moving average is $6.12. Wipro Limited has a 1-year low of $4.67 and a 1-year high of $7.04.

Wipro (NYSE:WIT) last released its quarterly earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Wipro had a return on equity of 14.98% and a net margin of 13.23%. Equities research analysts anticipate 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.