Ballentine Partners LLC lifted its position in Wipro Limited (NYSE:WIT – Free Report) by 20.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,641 shares of the information technology services provider’s stock after purchasing an additional 6,315 shares during the period. Ballentine Partners LLC’s holdings in Wipro were worth $169,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. First Trust Direct Indexing L.P. boosted its holdings in shares of Wipro by 19.5% in the first quarter. First Trust Direct Indexing L.P. now owns 120,095 shares of the information technology services provider’s stock valued at $539,000 after purchasing an additional 19,606 shares during the period. Werba Rubin Papier Wealth Management purchased a new stake in shares of Wipro in the first quarter valued at approximately $48,000. Lindbrook Capital LLC boosted its holdings in shares of Wipro by 73.5% in the first quarter. Lindbrook Capital LLC now owns 26,387 shares of the information technology services provider’s stock valued at $118,000 after purchasing an additional 11,180 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Wipro by 8.9% in the first quarter. Sequoia Financial Advisors LLC now owns 124,752 shares of the information technology services provider’s stock valued at $560,000 after purchasing an additional 10,153 shares during the period. Finally, Ronald Blue Trust Inc. boosted its holdings in shares of Wipro by 109.6% in the first quarter. Ronald Blue Trust Inc. now owns 27,033 shares of the information technology services provider’s stock valued at $126,000 after purchasing an additional 14,136 shares during the period. Hedge funds and other institutional investors own 2.20% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have weighed in on WIT shares. JPMorgan Chase & Co. started coverage on Wipro in a report on Tuesday, May 23rd. They set an “underweight” rating and a $4.30 target price for the company. StockNews.com started coverage on Wipro in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Sanford C. Bernstein lowered Wipro from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $5.10 to $3.90 in a report on Wednesday, March 22nd. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $4.36.
Wipro Stock Up 2.6 %
Wipro (NYSE:WIT – Get Free Report) last posted its quarterly earnings data on Thursday, April 27th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Wipro had a return on equity of 15.51% and a net margin of 12.70%. Equities research analysts forecast that Wipro Limited will post 0.27 EPS for the current fiscal year.
Wipro Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.
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