Wipro Limited (NYSE:WIT) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in Wipro Limited (NYSE:WIT) by 48.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,874 shares of the information technology services provider’s stock after acquiring an additional 37,148 shares during the quarter. Ritholtz Wealth Management’s holdings in Wipro were worth $738,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Wipro by 47.2% during the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 1,858 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Wipro in the first quarter valued at $60,000. Mayflower Financial Advisors LLC acquired a new position in shares of Wipro in the 2nd quarter valued at $64,000. Abacus Wealth Partners LLC purchased a new position in shares of Wipro during the 3rd quarter worth $71,000. Finally, Atomi Financial Group Inc. increased its position in shares of Wipro by 29.4% during the 1st quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider’s stock worth $77,000 after purchasing an additional 3,023 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Wipro stock opened at $6.38 on Wednesday. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52-week low of $4.48 and a 52-week high of $7.01. The firm has a market cap of $33.30 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 4.32 and a beta of 0.90. The company’s 50 day moving average is $6.29 and its two-hundred day moving average is $5.93.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, July 19th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. Wipro had a return on equity of 15.01% and a net margin of 12.57%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm earned $0.06 earnings per share. On average, research analysts expect that Wipro Limited will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.