Cresset Asset Management LLC Reduces Stake in Wipro Limited (NYSE:WIT)

Cresset Asset Management LLC cut its stake in Wipro Limited (NYSE:WIT - Free Report) by 80.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,780 shares of the information technology services provider's stock after selling 126,368 shares during the quarter. Cresset Asset Management LLC's holdings in Wipro were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WIT. Ritholtz Wealth Management increased its holdings in shares of Wipro by 127.9% in the 4th quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider's stock valued at $919,000 after acquiring an additional 145,629 shares during the period. HB Wealth Management LLC increased its holdings in shares of Wipro by 100.0% in the 4th quarter. HB Wealth Management LLC now owns 35,556 shares of the information technology services provider's stock valued at $126,000 after acquiring an additional 17,778 shares during the period. Aaron Wealth Advisors LLC purchased a new position in shares of Wipro in the 4th quarter valued at $63,000. Bridgewater Advisors Inc. increased its holdings in shares of Wipro by 109.8% in the 4th quarter. Bridgewater Advisors Inc. now owns 190,996 shares of the information technology services provider's stock valued at $649,000 after acquiring an additional 99,955 shares during the period. Finally, Abacus Wealth Partners LLC increased its holdings in shares of Wipro by 218.5% in the 4th quarter. Abacus Wealth Partners LLC now owns 34,692 shares of the information technology services provider's stock valued at $123,000 after acquiring an additional 23,798 shares during the period. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WIT shares. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

Wipro Stock Performance

Shares of NYSE WIT traded down $0.05 during mid-day trading on Thursday, hitting $2.85. The stock had a trading volume of 5,798,527 shares, compared to its average volume of 5,049,511. The firm has a market cap of $29.81 billion, a PE ratio of 19.66, a PEG ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The company has a 50 day moving average of $2.91 and a two-hundred day moving average of $3.95. Wipro Limited has a twelve month low of $2.55 and a twelve month high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Research analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal 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.