470,843 Shares in Wipro Limited (NYSE:WIT) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Wipro Limited (NYSE:WIT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 470,843 shares of the information technology services provider's stock, valued at approximately $1,667,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ridgewood Investments LLC raised its holdings in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after buying an additional 3,631 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Wipro during the 4th quarter worth about $29,000. Farther Finance Advisors LLC raised its stake in shares of Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC acquired a new stake in Wipro in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

WIT has been the topic of a number of recent analyst reports. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Wipro Stock Performance

Shares of Wipro stock traded down $0.01 during midday trading on Wednesday, hitting $2.89. The company had a trading volume of 5,444,367 shares, compared to its average volume of 5,019,193. 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 Limited has a 1-year low of $2.55 and a 1-year high of $3.79. The business's 50 day simple moving average is $2.96 and its two-hundred day simple moving average is $4.20. The stock has a market cap of $30.17 billion, a PE ratio of 19.90, a P/E/G ratio of 3.08 and a beta of 1.03.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share 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 firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. As a group, equities analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.