Sage Mountain Advisors LLC Takes $57,000 Position in Wipro Limited (NYSE:WIT)

Sage Mountain Advisors LLC acquired a new stake in Wipro Limited (NYSE:WIT) during the 4th quarter, HoldingsChannel reports. The firm acquired 16,014 shares of the information technology services provider’s stock, valued at approximately $57,000.

Several other large investors have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its stake in shares of Wipro by 13.2% during the 3rd quarter. QRG Capital Management Inc. now owns 29,244 shares of the information technology services provider’s stock worth $190,000 after purchasing an additional 3,408 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in Wipro in the 3rd quarter valued at $211,000. Catalytic Wealth RIA LLC acquired a new position in Wipro in the 3rd quarter valued at $81,000. Prime Capital Investment Advisors LLC grew its stake in 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 valued at $97,000 after buying an additional 3,558 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Wipro by 36.2% in the 3rd quarter. Victory Capital Management Inc. now owns 206,106 shares of the information technology services provider’s stock valued at $1,336,000 after buying an additional 54,791 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WIT. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Wipro Price Performance

Shares of Wipro stock opened at $3.09 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The firm has a fifty day moving average price of $3.51 and a two-hundred day moving average price of $5.20. The company has a market cap of $32.26 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last issued its quarterly 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 15.46%. Analysts expect that Wipro Limited will post 0.14 EPS for the current 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.