Avestar Capital LLC Makes New $54,000 Investment in Wipro Limited (NYSE:WIT)

Avestar Capital LLC bought a new stake in Wipro Limited (NYSE:WIT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 15,158 shares of the information technology services provider’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WIT. Van ECK Associates Corp increased its holdings in Wipro by 89.8% in the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock valued at $1,235,000 after purchasing an additional 165,076 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Wipro by 109.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,550 shares of the information technology services provider’s stock valued at $994,000 after buying an additional 145,875 shares in the last quarter. Beacon Financial Group purchased a new stake in shares of Wipro during the fourth quarter valued at approximately $38,000. Augustine Asset Management Inc. increased its stake in Wipro by 100.0% during the 4th quarter. Augustine Asset Management Inc. now owns 66,006 shares of the information technology services provider’s stock worth $234,000 after buying an additional 33,003 shares during the period. Finally, Savant Capital LLC purchased a new stake in shares of Wipro during the fourth quarter worth about $68,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Wipro Trading Up 0.1 %

Shares of NYSE WIT opened at $3.64 on Friday. The stock has a market capitalization of $38.01 billion, a P/E ratio of 25.07, a PEG ratio of 3.13 and a beta of 0.91. The stock’s 50 day moving average price is $3.74 and its two-hundred day moving average price is $5.53. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, analysts anticipate that Wipro Limited will post 0.14 earnings per share 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.