HighPoint Advisor Group LLC Invests $45,000 in Wipro Limited (NYSE:WIT)

HighPoint Advisor Group LLC acquired a new stake in Wipro Limited (NYSE:WIT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,174 shares of the information technology services provider’s stock, valued at approximately $45,000.

Several other hedge funds have also recently added to or reduced their stakes in WIT. Ridgewood Investments LLC increased its stake in shares of Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC bought a new stake in Wipro in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC bought a new position in shares of Wipro during the fourth quarter worth $36,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Trading Down 4.1 %

WIT opened at $2.80 on Friday. The firm’s fifty day simple moving average is $3.35 and its 200 day simple moving average is $4.81. The stock has a market capitalization of $29.28 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.08 and a beta of 0.94. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79.

Wipro (NYSE:WIT) last posted 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, research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on WIT. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Finally, UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.