KLR Investment Advisors LLC Raises Stock Holdings in Wipro Limited (NYSE:WIT)

KLR Investment Advisors LLC lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 20.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,045 shares of the information technology services provider’s stock after acquiring an additional 4,131 shares during the quarter. KLR Investment Advisors LLC’s holdings in Wipro were worth $113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. purchased a new stake in shares of Wipro during the first quarter valued at approximately $26,000. Spire Wealth Management purchased a new stake in Wipro in the first quarter worth $29,000. Assetmark Inc. purchased a new stake in Wipro in the first quarter worth $35,000. Enterprise Financial Services Corp purchased a new stake in Wipro in the fourth quarter worth $49,000. Finally, Susquehanna International Group LLP purchased a new stake in Wipro in the fourth quarter worth $56,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Price Performance

NYSE:WIT traded up $0.01 during trading hours on Friday, hitting $4.52. 55,827 shares of the company’s stock traded hands, compared to its average volume of 1,862,901. The firm has a market cap of $23.57 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.01 and a beta of 0.83. Wipro Limited has a 52 week low of $4.32 and a 52 week high of $5.31. The business’s fifty day simple moving average is $4.87 and its two-hundred day simple moving average is $4.83. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Wednesday, October 18th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.77 billion. Wipro had a net margin of 12.69% and a return on equity of 16.02%. During the same period in the prior year, the business posted $0.06 EPS. On average, research analysts anticipate that Wipro Limited will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WIT. The Goldman Sachs Group began coverage on Wipro in a research report on Tuesday, August 22nd. They issued a “sell” rating and a $4.70 target price for the company. StockNews.com assumed coverage on Wipro in a research report on Thursday, October 5th. They issued a “hold” rating for the company.

Wipro Company Profile

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.