Wipro Limited (NYSE:WIT) Shares Bought by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC raised its stake in shares of Wipro Limited (NYSE:WIT) by 218.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,692 shares of the information technology services provider’s stock after acquiring an additional 23,798 shares during the period. Abacus Wealth Partners LLC’s holdings in Wipro were worth $123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new stake in Wipro in the 2nd quarter valued at approximately $531,000. Segall Bryant & Hamill LLC purchased a new position in shares of Wipro during the third quarter worth $610,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Wipro in the third quarter valued at $860,000. AQR Capital Management LLC raised its holdings in shares of Wipro by 12.9% in the 2nd quarter. AQR Capital Management LLC now owns 694,610 shares of the information technology services provider’s stock valued at $4,223,000 after buying an additional 79,431 shares during the period. Finally, Blue Trust Inc. lifted its stake in Wipro by 207.4% during the 3rd quarter. Blue Trust Inc. now owns 183,008 shares of the information technology services provider’s stock worth $1,116,000 after acquiring an additional 123,478 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Wipro Stock Up 4.1 %

WIT stock opened at $3.44 on Tuesday. The company’s 50 day moving average price is $5.07 and its 200 day moving average price is $5.89. The firm has a market capitalization of $35.90 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 4.44 and a beta of 0.91. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69.

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.