Laird Norton Wetherby Trust Company LLC Boosts Stake in Wipro Limited (NYSE:WIT)

Laird Norton Wetherby Trust Company LLC lifted its position in Wipro Limited (NYSE:WIT - Free Report) by 239.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,375 shares of the information technology services provider's stock after purchasing an additional 175,172 shares during the quarter. Laird Norton Wetherby Trust Company LLC's holdings in Wipro were worth $879,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc grew its position in Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 3,631 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Wipro in the fourth quarter worth approximately $29,000. Farther Finance Advisors LLC increased its stake in shares of Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after buying an additional 4,851 shares during the period. Freestone Capital Holdings LLC bought a new stake in Wipro during the 4th quarter valued at $36,000. Finally, Callan Family Office LLC purchased a new stake in Wipro during the 4th quarter valued at $37,000. 2.36% of the stock is currently owned by institutional investors.

Wipro Trading Down 0.7%

Shares of Wipro stock traded down $0.02 during midday trading on Wednesday, reaching $2.97. 2,968,813 shares of the company's stock traded hands, compared to its average volume of 5,063,385. The stock has a 50 day moving average of $2.93 and a 200-day moving average of $4.07. 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 $31.07 billion, a PE ratio of 20.48, a price-to-earnings-growth 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.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting 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. As a group, equities analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WIT. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. 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.