Wipro Limited (NYSE:WIT) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC grew its holdings in shares of Wipro Limited (NYSE:WIT) by 104.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,827 shares of the information technology services provider’s stock after acquiring an additional 21,851 shares during the quarter. Townsquare Capital LLC’s holdings in Wipro were worth $152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bessemer Group Inc. grew its position in Wipro by 100.0% in the 4th quarter. Bessemer Group Inc. now owns 50,450 shares of the information technology services provider’s stock valued at $179,000 after buying an additional 25,225 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Wipro during the fourth quarter worth approximately $1,667,000. Renaissance Technologies LLC lifted its position in Wipro by 323.8% in the fourth quarter. Renaissance Technologies LLC now owns 768,000 shares of the information technology services provider’s stock worth $2,719,000 after purchasing an additional 586,800 shares during the period. Shelton Capital Management boosted its stake in Wipro by 75.1% during the 4th quarter. Shelton Capital Management now owns 281,400 shares of the information technology services provider’s stock valued at $996,000 after purchasing an additional 120,700 shares in the last quarter. Finally, Canopy Partners LLC raised its stake in shares of Wipro by 101.8% in the 4th quarter. Canopy Partners LLC now owns 100,454 shares of the information technology services provider’s stock worth $356,000 after buying an additional 50,680 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Analysts Set New Price Targets

WIT has been the topic of a number of research analyst reports. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. StockNews.com lowered shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Jefferies Financial Group lowered shares of Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Wipro Stock Performance

Shares of WIT opened at $2.84 on Thursday. The company has a 50-day moving average of $3.09 and a two-hundred day moving average of $4.45. The stock has a market cap of $29.70 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a one year low of $2.55 and a one year high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, equities research analysts expect that Wipro Limited will post 0.14 earnings per share for the current 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.