Corient Private Wealth LLC Boosts Stake in Wipro Limited (NYSE:WIT)

Corient Private Wealth LLC lifted its holdings in Wipro Limited (NYSE:WIT) by 98.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 599,769 shares of the information technology services provider’s stock after buying an additional 297,756 shares during the period. Corient Private Wealth LLC’s holdings in Wipro were worth $2,123,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Gitterman Wealth Management LLC boosted its position in Wipro by 115.4% in the fourth quarter. Gitterman Wealth Management LLC now owns 51,639 shares of the information technology services provider’s stock worth $183,000 after purchasing an additional 27,660 shares during the last quarter. Ascent Capital Management LLC purchased a new position in shares of Wipro in the 4th quarter worth about $55,000. Natixis Advisors LLC boosted its holdings in shares of Wipro by 109.3% in the 4th quarter. Natixis Advisors LLC now owns 336,727 shares of the information technology services provider’s stock worth $1,192,000 after buying an additional 175,822 shares during the last quarter. Vestcor Inc increased its holdings in Wipro by 62.2% during the fourth quarter. Vestcor Inc now owns 1,025,060 shares of the information technology services provider’s stock worth $3,629,000 after buying an additional 393,258 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Wipro by 208.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,969,385 shares of the information technology services provider’s stock worth $17,592,000 after acquiring an additional 3,359,066 shares during the period. 2.36% of the stock is owned by institutional investors.

Wipro Price Performance

WIT opened at $3.14 on Tuesday. The company has a market capitalization of $32.78 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 3.08 and a beta of 0.94. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $3.44 and a 200-day moving average price of $5.00. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com raised 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 research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Wipro 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.