Sunpointe LLC Makes New $47,000 Investment in Wipro Limited (NYSE:WIT)

Sunpointe LLC acquired a new position 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 13,214 shares of the information technology services provider’s stock, valued at approximately $47,000.

Other institutional investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its stake in shares of Wipro by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after acquiring an additional 1,746 shares during the last quarter. BSW Wealth Partners grew its stake in shares of Wipro by 2.8% in the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock worth $573,000 after acquiring an additional 2,418 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Wipro by 9.1% in the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock worth $233,000 after acquiring an additional 2,951 shares during the last quarter. PDS Planning Inc grew its stake in shares of Wipro by 3.7% in the third quarter. PDS Planning Inc now owns 92,352 shares of the information technology services provider’s stock worth $598,000 after acquiring an additional 3,302 shares during the last quarter. Finally, Cable Hill Partners LLC grew its stake in shares of Wipro by 7.6% in the third quarter. Cable Hill Partners LLC now owns 47,740 shares of the information technology services provider’s stock worth $309,000 after acquiring an additional 3,359 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

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

Wipro Price Performance

NYSE WIT opened at $3.65 on Friday. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The stock has a 50-day moving average of $3.60 and a 200 day moving average of $5.46. The company has a market capitalization of $38.12 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS 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%. On average, sell-side analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Wipro Company 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.