Cerity Partners LLC Has $2.97 Million Holdings in Wipro Limited (NYSE:WIT)

Cerity Partners LLC lifted its stake in Wipro Limited (NYSE:WIT - Free Report) by 63.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 970,796 shares of the information technology services provider's stock after purchasing 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 quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Wipro by 148.3% in 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 buying an additional 4,851 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Wipro by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,692 shares of the information technology services provider's stock valued at $278,000 after buying an additional 5,103 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Wipro by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider's stock valued at $244,000 after buying an additional 6,323 shares in the last quarter. Optas LLC raised its position in shares of Wipro by 19.7% in the 1st quarter. Optas LLC now owns 41,314 shares of the information technology services provider's stock valued at $126,000 after purchasing an additional 6,801 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Wipro by 4.5% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 195,194 shares of the information technology services provider's stock valued at $691,000 after purchasing an additional 8,322 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wipro Trading Down 2.0%

Shares of NYSE WIT traded down $0.06 during midday trading on Friday, hitting $3.00. The stock had a trading volume of 4,827,901 shares, compared to its average volume of 5,054,661. The company has a market capitalization of $31.38 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 8.45 and a beta of 1.02. Wipro Limited has a 1-year low of $2.63 and a 1-year high of $3.79. The company has a quick ratio of 2.71, a current ratio of 2.72 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average price of $2.97 and a 200 day moving average price 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 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Wipro had a return on equity of 16.07% and a net margin of 15.07%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. On average, analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.