17,848 Shares in Wipro Limited (NYSE:WIT) Bought by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC bought a new stake in Wipro Limited (NYSE:WIT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,848 shares of the information technology services provider’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC increased its holdings in shares of Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 3,557 shares during the period. Beacon Financial Group acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $38,000. Leo Wealth LLC bought a new stake in shares of Wipro during the fourth quarter valued at approximately $40,000. BOCHK Asset Management Ltd acquired a new position in shares of Wipro during the fourth quarter worth approximately $42,000. Finally, PFG Investments LLC bought a new position in Wipro in the 4th quarter worth approximately $43,000. 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. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Wipro Stock Performance

Shares of WIT opened at $3.63 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The firm’s 50 day moving average is $3.88 and its 200-day moving average is $5.56. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The stock has a market capitalization of $37.96 billion, a P/E ratio of 25.04, a P/E/G ratio of 3.13 and a beta of 0.91.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 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%. Equities research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Company 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.