Aaron Wealth Advisors LLC Purchases Shares of 17,934 Wipro Limited (NYSE:WIT)

Aaron Wealth Advisors LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,934 shares of the information technology services provider’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. HB Wealth Management LLC raised its stake in Wipro by 100.0% in the fourth quarter. HB Wealth Management LLC now owns 35,556 shares of the information technology services provider’s stock valued at $126,000 after buying an additional 17,778 shares during the period. Cherrydale Wealth Management LLC raised its stake in Wipro by 100.0% in the 4th quarter. Cherrydale Wealth Management LLC now owns 41,168 shares of the information technology services provider’s stock valued at $146,000 after acquiring an additional 20,584 shares during the period. Ritholtz Wealth Management boosted its position in Wipro by 127.9% during the fourth quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider’s stock worth $919,000 after purchasing an additional 145,629 shares during the period. Essex Savings Bank increased its holdings in shares of Wipro by 100.0% in the fourth quarter. Essex Savings Bank now owns 27,310 shares of the information technology services provider’s stock valued at $96,000 after purchasing an additional 13,655 shares during the last quarter. Finally, Kathmere Capital Management LLC bought a new position in shares of Wipro in the fourth quarter valued at about $69,000. 2.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, Investec lowered Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. 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 data from MarketBeat.com, Wipro presently has an average rating of “Moderate Buy”.

Wipro Stock Up 2.2 %

NYSE WIT opened at $3.52 on Wednesday. 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 company has a market cap of $36.73 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 4.44 and a beta of 0.91. The company has a 50 day moving average of $4.99 and a 200-day moving average of $5.87. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.75.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. On average, equities research analysts expect 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.