Wipro Limited (NYSE:WIT) Shares Acquired by First Affirmative Financial Network

First Affirmative Financial Network increased its stake in Wipro Limited (NYSE:WIT) by 37.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,844 shares of the information technology services provider’s stock after purchasing an additional 4,278 shares during the quarter. First Affirmative Financial Network’s holdings in Wipro were worth $103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Wipro by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock valued at $35,422,000 after acquiring an additional 2,437,802 shares during the last quarter. Millennium Management LLC lifted its holdings in Wipro by 67.6% in the 2nd quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock valued at $34,298,000 after acquiring an additional 2,267,995 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Wipro by 3.8% in the 4th quarter. Fisher Asset Management LLC now owns 2,313,160 shares of the information technology services provider’s stock valued at $12,884,000 after acquiring an additional 84,519 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Wipro by 44.0% in the 4th quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider’s stock valued at $10,396,000 after acquiring an additional 570,001 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Wipro by 6,295.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,800,000 shares of the information technology services provider’s stock valued at $10,260,000 after acquiring an additional 1,771,854 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WIT shares. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Friday, September 27th. Nomura assumed coverage on shares of Wipro in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. Nomura Securities raised shares of Wipro to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.60.

Wipro Price Performance

Shares of WIT opened at $6.37 on Monday. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 4.32 and a beta of 0.90. Wipro Limited has a fifty-two week low of $4.48 and a fifty-two week high of $7.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70. The business’s 50-day moving average is $6.26 and its 200-day moving average is $5.92.

Wipro (NYSE:WIT) last issued its earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.65 billion. Wipro had a return on equity of 15.01% and a net margin of 12.57%. During the same quarter in the prior year, the company earned $0.06 EPS. Equities research analysts expect that Wipro Limited will post 0.27 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.