HighPoint Advisor Group LLC Buys New Shares in Wipro Limited (NYSE:WIT)

HighPoint Advisor Group LLC purchased a new stake in shares of Wipro Limited (NYSE:WIT) in the 4th quarter, Holdings Channel reports. The fund purchased 12,174 shares of the information technology services provider’s stock, valued at approximately $45,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Perigon Wealth Management LLC bought a new stake in shares of Wipro in the 4th quarter valued at about $61,000. Tobam bought a new stake in Wipro in the fourth quarter valued at approximately $261,000. HighTower Advisors LLC lifted its position in shares of Wipro by 292.0% in the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider’s stock valued at $221,000 after buying an additional 46,432 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock worth $1,235,000 after acquiring an additional 165,076 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock worth $307,000 after acquiring an additional 41,766 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Wipro Stock Down 4.1 %

WIT stock opened at $2.80 on Friday. The business’s fifty day moving average price is $3.35 and its two-hundred day moving average price is $4.81. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.08 and a beta of 0.94. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. 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 (NYSE:WIT) last issued 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 net margin of 13.96% and a return on equity of 15.46%. On average, equities analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current 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.