Laird Norton Wetherby Wealth Management LLC Purchases 514,944 Shares of Wipro Limited (NYSE:WIT)

Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 86.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,112,957 shares of the information technology services provider's stock after acquiring an additional 514,944 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Wipro were worth $3,940,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Perigon Wealth Management LLC bought a new stake in shares of Wipro during the fourth quarter worth about $61,000. HighTower Advisors LLC grew its holdings in shares of Wipro by 292.0% during the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock worth $221,000 after purchasing an additional 46,432 shares during the last quarter. Barclays PLC bought a new stake in shares of Wipro during the fourth quarter worth about $461,000. Tobam bought a new stake in shares of Wipro during the fourth quarter worth about $261,000. Finally, Legal & General Group Plc grew its holdings in shares of Wipro by 100.0% during the fourth quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider's stock worth $375,000 after purchasing an additional 53,044 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wall Street Analyst Weigh In

WIT has been the topic of several research reports. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Jefferies Financial Group cut 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wipro currently has a consensus rating of "Hold".

Wipro Price Performance

Shares of NYSE:WIT traded down $0.05 on Friday, hitting $2.96. The company's stock had a trading volume of 4,048,684 shares, compared to its average volume of 5,072,876. The company has a 50-day simple moving average of $2.92 and a 200 day simple moving average of $4.00. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a market capitalization of $30.91 billion, a PE ratio of 20.38, a PEG ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $2.62 billion for 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%. Sell-side analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.