Laird Norton Wetherby Trust Company LLC Has $879,000 Stock Position in Wipro Limited (NYSE:WIT)

Laird Norton Wetherby Trust Company LLC boosted its stake in Wipro Limited (NYSE:WIT - Free Report) by 239.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 248,375 shares of the information technology services provider's stock after purchasing an additional 175,172 shares during the period. Laird Norton Wetherby Trust Company LLC's holdings in Wipro were worth $879,000 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. GAMMA Investing LLC raised its holdings in shares of Wipro by 161.3% in the fourth quarter. GAMMA Investing LLC now owns 23,099 shares of the information technology services provider's stock valued at $82,000 after buying an additional 14,258 shares during the last quarter. Diversified Trust Co grew its position in Wipro by 361.4% during the fourth quarter. Diversified Trust Co now owns 89,056 shares of the information technology services provider's stock worth $315,000 after buying an additional 69,755 shares during the period. Fulton Bank N.A. acquired a new position in Wipro during the fourth quarter worth about $44,000. Aprio Wealth Management LLC grew its position in Wipro by 246.9% during the fourth quarter. Aprio Wealth Management LLC now owns 52,339 shares of the information technology services provider's stock worth $185,000 after buying an additional 37,251 shares during the period. Finally, Fragasso Financial Advisors Inc acquired a new position in Wipro during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Price Performance

Shares of WIT stock traded down $0.05 during midday trading on Friday, reaching $2.96. 4,048,684 shares of the company were exchanged, compared to its average volume of 5,062,417. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a market cap of $30.91 billion, a P/E ratio of 20.38, a PEG ratio of 3.08 and a beta of 1.03. The company's 50 day moving average price is $2.92 and its two-hundred day moving average price is $4.02. 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 - Get Free Report) last released its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. On average, sell-side analysts expect that Wipro Limited will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on WIT. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold".

About Wipro

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.