Janiczek Wealth Management LLC Boosts Stock Position in Wipro Limited (NYSE:WIT)

Janiczek Wealth Management LLC lifted its position in shares of Wipro Limited (NYSE:WIT) by 77.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,161 shares of the information technology services provider’s stock after purchasing an additional 41,466 shares during the period. Janiczek Wealth Management LLC’s holdings in Wipro were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WIT. Raymond James & Associates lifted its holdings in Wipro by 5.2% in the first quarter. Raymond James & Associates now owns 118,772 shares of the information technology services provider’s stock worth $916,000 after buying an additional 5,891 shares during the period. American Century Companies Inc. lifted its holdings in Wipro by 22.8% in the first quarter. American Century Companies Inc. now owns 199,067 shares of the information technology services provider’s stock worth $1,535,000 after buying an additional 36,907 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Wipro by 4.9% in the first quarter. PNC Financial Services Group Inc. now owns 47,432 shares of the information technology services provider’s stock worth $366,000 after buying an additional 2,234 shares during the period. BlackRock Inc. lifted its holdings in Wipro by 3.3% in the first quarter. BlackRock Inc. now owns 16,033,590 shares of the information technology services provider’s stock worth $123,618,000 after buying an additional 509,102 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Wipro by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 99,589 shares of the information technology services provider’s stock worth $768,000 after buying an additional 14,576 shares during the period. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Down 1.3 %

Shares of WIT traded down $0.07 on Friday, hitting $5.22. 3,095,676 shares of the stock traded hands, compared to its average volume of 1,379,709. The company has a market capitalization of $28.61 billion, a PE ratio of 20.08, a P/E/G ratio of 2.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.71 and a current ratio of 1.72. The business has a 50 day simple moving average of $4.98 and a 200 day simple moving average of $4.76. Wipro Limited has a one year low of $4.32 and a one year high of $5.31.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Thursday, July 13th. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.79 billion. Wipro had a net margin of 12.70% and a return on equity of 15.94%. As a group, equities analysts forecast that Wipro Limited will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Wipro in a research note on Thursday, August 17th. They set a “hold” rating for the company. The Goldman Sachs Group assumed coverage on shares of Wipro in a research note on Tuesday, August 22nd. They set a “sell” rating and a $4.70 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Wipro in a research note on Tuesday, May 23rd. They set an “underweight” rating and a $4.30 target price for the company. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $4.30.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.