Verdence Capital Advisors LLC Acquires 33,569 Shares of Wipro Limited (NYSE:WIT)

Verdence Capital Advisors LLC lifted its holdings in Wipro Limited (NYSE:WIT) by 103.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,061 shares of the information technology services provider’s stock after buying an additional 33,569 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Wipro were worth $234,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its holdings in shares of Wipro by 13.2% during the third quarter. QRG Capital Management Inc. now owns 29,244 shares of the information technology services provider’s stock valued at $190,000 after buying an additional 3,408 shares during the last quarter. Catalytic Wealth RIA LLC purchased a new stake in Wipro during the 3rd quarter valued at $81,000. Prime Capital Investment Advisors LLC increased its holdings in shares of Wipro by 31.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,992 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 3,558 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Wipro by 36.2% in the third quarter. Victory Capital Management Inc. now owns 206,106 shares of the information technology services provider’s stock worth $1,336,000 after purchasing an additional 54,791 shares during the last quarter. Finally, Cable Hill Partners LLC lifted its holdings in shares of Wipro by 7.6% during the third quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider’s stock valued at $309,000 after purchasing an additional 3,359 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Wipro Stock Down 0.2 %

Shares of WIT opened at $3.28 on Friday. The business’s 50 day simple moving average is $3.53 and its 200-day simple moving average is $5.27. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $34.25 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) 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 15.46% and a net margin of 13.96%. As a group, equities analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.