Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Wipro Limited (NYSE:WIT)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Wipro Limited (NYSE:WITFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,880 shares of the information technology services provider’s stock, valued at approximately $67,000.

A number of other large investors also recently modified their holdings of the company. Segall Bryant & Hamill LLC bought a new stake in Wipro during the third quarter valued at about $610,000. Allspring Global Investments Holdings LLC bought a new stake in Wipro during the 3rd quarter valued at approximately $860,000. Ritholtz Wealth Management lifted its holdings in Wipro by 127.9% in the 4th quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider’s stock worth $919,000 after purchasing an additional 145,629 shares in the last quarter. DGS Capital Management LLC boosted its stake in Wipro by 114.8% in the 4th quarter. DGS Capital Management LLC now owns 419,721 shares of the information technology services provider’s stock worth $1,486,000 after purchasing an additional 224,280 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Wipro by 12.9% during 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 in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WIT. Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Check Out Our Latest Report on WIT

Wipro Stock Performance

Shares of NYSE:WIT opened at $3.68 on Friday. The firm has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $5.74. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $38.41 billion, a P/E ratio of 25.35, a PEG ratio of 3.09 and a beta of 0.91. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WITGet Free Report) last issued its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. On average, analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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