Envestnet Asset Management Inc. Takes $56,000 Position in Wipro Limited (NYSE:WIT)

Envestnet Asset Management Inc. bought a new stake in Wipro Limited (NYSE:WIT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,901 shares of the information technology services provider’s stock, valued at approximately $56,000.

A number of other large investors have also recently bought and sold shares of WIT. Ridgewood Investments LLC grew its holdings in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 3,557 shares during the period. Bell Investment Advisors Inc boosted its position in Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 3,631 shares during the period. Farther Finance Advisors LLC raised its position in Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 4,851 shares during the period. Geode Capital Management LLC boosted its position in shares of Wipro by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider’s stock worth $244,000 after buying an additional 6,323 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Wipro by 110.1% during the 4th quarter. Allworth Financial LP now owns 13,836 shares of the information technology services provider’s stock valued at $51,000 after buying an additional 7,251 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

WIT has been the subject of a number of analyst reports. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Wipro Stock Up 0.7 %

Shares of NYSE:WIT opened at $2.82 on Friday. The company’s fifty day moving average is $2.95 and its two-hundred day moving average is $4.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The stock has a market capitalization of $29.49 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03.

Wipro (NYSE:WIT) last posted its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Wipro Profile

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.