Mount Yale Investment Advisors LLC Makes New $188,000 Investment in Wipro Limited (NYSE:WIT)

Mount Yale Investment Advisors LLC purchased a new stake in shares of Wipro Limited (NYSE:WIT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 53,187 shares of the information technology services provider’s stock, valued at approximately $188,000.

A number of other large investors have also recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in Wipro by 67.6% in the second 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. Fisher Asset Management LLC boosted its stake in shares of Wipro by 72.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,802,182 shares of the information technology services provider’s stock worth $24,638,000 after buying an additional 1,593,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Wipro by 116.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock worth $10,435,000 after acquiring an additional 867,516 shares during the period. Ballentine Partners LLC lifted its holdings in Wipro by 112.5% in the fourth quarter. Ballentine Partners LLC now owns 504,493 shares of the information technology services provider’s stock valued at $1,786,000 after acquiring an additional 267,036 shares during the period. Finally, Creative Planning boosted its position in Wipro by 24.6% in the third quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider’s stock worth $8,666,000 after purchasing an additional 263,925 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wipro Price Performance

NYSE WIT opened at $3.68 on Thursday. The stock has a market cap of $38.41 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.09 and a beta of 0.91. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company’s 50 day moving average is $4.62 and its two-hundred day moving average is $5.76. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08.

Wipro (NYSE:WIT) last released its earnings results 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 15.71%. As a group, research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

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.