Cwm LLC Increases Stock Holdings in Wipro Limited (NYSE:WIT)

Cwm LLC increased its holdings in shares of Wipro Limited (NYSE:WIT) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,286 shares of the information technology services provider’s stock after buying an additional 1,951 shares during the quarter. Cwm LLC’s holdings in Wipro were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. acquired a new stake in shares of Wipro in the third quarter worth approximately $63,000. Waldron Private Wealth LLC boosted its holdings in shares of Wipro by 14.7% in the 3rd quarter. Waldron Private Wealth LLC now owns 29,610 shares of the information technology services provider’s stock valued at $143,000 after purchasing an additional 3,796 shares during the last quarter. Advisor Partners II LLC grew its stake in shares of Wipro by 70.0% during the 3rd quarter. Advisor Partners II LLC now owns 223,913 shares of the information technology services provider’s stock valued at $1,084,000 after buying an additional 92,194 shares during the period. Keel Point LLC acquired a new stake in shares of Wipro during the 3rd quarter worth $54,000. Finally, AlphaQ Advisors LLC purchased a new position in shares of Wipro in the 3rd quarter worth $48,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on WIT shares. Wedbush upped their price target on Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 16th. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. BNP Paribas initiated coverage on shares of Wipro in a research report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective for the company. Finally, TheStreet upgraded shares of Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.05.

Wipro Stock Up 0.5 %

NYSE WIT opened at $5.50 on Wednesday. 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 Limited has a fifty-two week low of $4.48 and a fifty-two week high of $6.45. The business has a 50 day moving average price of $5.72 and a two-hundred day moving average price of $5.46. The stock has a market cap of $28.68 billion, a PE ratio of 21.98, a P/E/G ratio of 2.24 and a beta of 0.86.

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.