Caprock Group LLC Raises Position in Wipro Limited (NYSE:WIT)

Caprock Group LLC increased its holdings in Wipro Limited (NYSE:WITFree Report) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,347 shares of the information technology services provider’s stock after purchasing an additional 8,338 shares during the quarter. Caprock Group LLC’s holdings in Wipro were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in Wipro by 4.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 47,432 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 2,234 shares during the last quarter. Franklin Resources Inc. grew its holdings in Wipro by 10.1% in the 1st quarter. Franklin Resources Inc. now owns 24,557 shares of the information technology services provider’s stock worth $110,000 after acquiring an additional 2,259 shares during the last quarter. HB Wealth Management LLC grew its holdings in Wipro by 13.9% in the 4th quarter. HB Wealth Management LLC now owns 18,814 shares of the information technology services provider’s stock worth $105,000 after acquiring an additional 2,302 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Wipro by 9.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 28,844 shares of the information technology services provider’s stock worth $140,000 after acquiring an additional 2,473 shares during the last quarter. Finally, Enterprise Financial Services Corp grew its holdings in Wipro by 24.2% in the 1st quarter. Enterprise Financial Services Corp now owns 13,130 shares of the information technology services provider’s stock worth $59,000 after acquiring an additional 2,555 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Up 0.9 %

NYSE:WIT opened at $5.75 on Monday. Wipro Limited has a one year low of $4.32 and a one year high of $6.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The company’s 50-day simple moving average is $5.99 and its 200 day simple moving average is $5.35. The firm has a market capitalization of $30.00 billion, a P/E ratio of 23.00, a PEG ratio of 2.51 and a beta of 0.87.

Wipro (NYSE:WITGet Free Report) last posted its quarterly earnings data on Friday, January 12th. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Wipro had a return on equity of 15.68% and a net margin of 12.42%. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.76 billion. As a group, analysts forecast that Wipro Limited will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WIT has been the topic of a number of recent analyst reports. Wedbush raised their price target on shares of Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a report on Tuesday, January 16th. TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, BNP Paribas started coverage on shares of Wipro in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.20 target price on the stock. Four research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $5.05.

View Our Latest Stock Analysis on Wipro

About Wipro

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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