Cerity Partners LLC Boosts Stock Position in Wipro Limited (NYSE:WIT)

Cerity Partners LLC lifted its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 63.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 970,796 shares of the information technology services provider's stock after acquiring an additional 376,892 shares during the period. Cerity Partners LLC's holdings in Wipro were worth $2,971,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WIT. Farther Finance Advisors LLC grew its position in shares of Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares during the period. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Wipro during the 4th quarter valued at approximately $35,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Wipro during the 4th quarter valued at approximately $37,000. CogentBlue Wealth Advisors LLC purchased a new stake in shares of Wipro during the 1st quarter valued at approximately $37,000. Finally, Legacy Advisors LLC purchased a new stake in Wipro in the 1st quarter worth approximately $40,000. 2.36% of the stock is owned by institutional investors.

Wipro Stock Down 0.5%

Wipro stock traded down $0.02 during midday trading on Tuesday, hitting $2.96. 6,710,233 shares of the company's stock were exchanged, compared to its average volume of 5,056,506. Wipro Limited has a 12 month low of $2.63 and a 12 month high of $3.79. The company has a market cap of $30.91 billion, a PE ratio of 19.06, a P/E/G ratio of 10.57 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72. The firm has a 50-day moving average of $2.97 and a two-hundred day moving average of $3.14.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $219.23 billion. Wipro had a net margin of 15.07% and a return on equity of 16.07%. As a group, analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Wall Street Zen raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Finally, Morgan Stanley raised shares of Wipro from an "underweight" rating to an "equal weight" rating in a report on Friday, June 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Wipro has a consensus rating of "Hold".

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.