12,517 Shares in Wipro Limited (NYSE:WIT) Purchased by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC acquired a new position in Wipro Limited (NYSE:WIT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,517 shares of the information technology services provider’s stock, valued at approximately $81,000.

Several other institutional investors also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Wipro by 67.6% during the 2nd quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock worth $34,298,000 after purchasing an additional 2,267,995 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Wipro by 6,295.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,800,000 shares of the information technology services provider’s stock worth $10,260,000 after purchasing an additional 1,771,854 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Wipro during the 2nd quarter worth approximately $7,994,000. Jane Street Group LLC boosted its holdings in shares of Wipro by 292.0% during the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after purchasing an additional 1,001,644 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Wipro by 154.1% during the 1st quarter. Lazard Asset Management LLC now owns 855,496 shares of the information technology services provider’s stock worth $4,919,000 after purchasing an additional 518,866 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wipro presently has an average rating of “Hold” and an average target price of $5.60.

Wipro Stock Down 1.0 %

Shares of NYSE WIT opened at $6.93 on Wednesday. The firm has a market cap of $36.20 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 4.63 and a beta of 0.89. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52-week low of $4.50 and a 52-week high of $7.04. The business’s 50 day moving average is $6.50 and its two-hundred day moving average is $6.08.

Wipro (NYSE:WIT) last announced its earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.66 billion. Wipro had a return on equity of 14.98% and a net margin of 13.23%. Research analysts predict that Wipro Limited will post 0.27 EPS for the current year.

About Wipro

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.