Venturi Wealth Management LLC Purchases 11,291 Shares of Wipro Limited (NYSE:WIT)

Venturi Wealth Management LLC lifted its position in shares of Wipro Limited (NYSE:WIT) by 700.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,902 shares of the information technology services provider’s stock after buying an additional 11,291 shares during the quarter. Venturi Wealth Management LLC’s holdings in Wipro were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WIT. Allspring Global Investments Holdings LLC bought a new position in shares of Wipro during the third quarter valued at $860,000. BSW Wealth Partners grew its stake in shares of Wipro by 2.8% in the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock worth $573,000 after acquiring an additional 2,418 shares during the period. QRG Capital Management Inc. grew its stake in shares of Wipro by 13.2% in the third quarter. QRG Capital Management Inc. now owns 29,244 shares of the information technology services provider’s stock worth $190,000 after acquiring an additional 3,408 shares during the period. PDS Planning Inc grew its stake in shares of Wipro by 3.7% in the third quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock worth $598,000 after acquiring an additional 3,302 shares during the period. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Wipro in the third quarter worth approximately $211,000. 2.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Wipro Stock Down 0.7 %

Shares of WIT stock opened at $3.39 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The stock has a market cap of $35.40 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.08 and a beta of 0.91. The company has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $5.40.

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