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

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Perigon Wealth Management LLC acquired a new stake in shares of Wipro during the 4th quarter worth about $61,000. HighTower Advisors LLC increased 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 period. Barclays PLC acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $461,000. Tobam bought a new stake in shares of Wipro in the fourth quarter valued at approximately $261,000. Finally, Legal & General Group Plc grew its position in 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 buying an additional 53,044 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

Wipro Price Performance

NYSE WIT traded down $0.02 on Wednesday, hitting $2.97. 2,968,813 shares of the company's stock were exchanged, 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. The stock has a market cap of $31.07 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 3.08 and a beta of 1.03. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly 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. The company 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%. Analysts expect that Wipro Limited will post 0.14 earnings per share for the current 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.