Creative Planning grew its position in Wipro Limited (NYSE:WIT – Free Report) by 64.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 403,609 shares of the information technology services provider’s stock after purchasing an additional 158,479 shares during the period. Creative Planning’s holdings in Wipro were worth $1,905,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Wipro by 26.5% in the first quarter. BlackRock Inc. now owns 23,652,224 shares of the information technology services provider’s stock valued at $106,198,000 after purchasing an additional 4,951,534 shares during the period. Morgan Stanley increased its holdings in shares of Wipro by 23.5% in the fourth quarter. Morgan Stanley now owns 13,757,038 shares of the information technology services provider’s stock valued at $64,108,000 after purchasing an additional 2,621,127 shares during the period. State Street Corp increased its holdings in shares of Wipro by 1.3% in the first quarter. State Street Corp now owns 10,370,638 shares of the information technology services provider’s stock valued at $79,953,000 after purchasing an additional 134,870 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Wipro by 29.3% in the first quarter. Goldman Sachs Group Inc. now owns 8,657,490 shares of the information technology services provider’s stock valued at $66,749,000 after purchasing an additional 1,962,931 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Wipro by 265.2% in the first quarter. Acadian Asset Management LLC now owns 4,613,501 shares of the information technology services provider’s stock valued at $20,704,000 after purchasing an additional 3,350,283 shares during the period. 2.36% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently weighed in on WIT. The Goldman Sachs Group initiated coverage on Wipro in a report on Tuesday, August 22nd. They issued a “sell” rating and a $4.70 price objective on the stock. StockNews.com initiated coverage on Wipro in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to data from MarketBeat, Wipro presently has a consensus rating of “Reduce” and an average price target of $4.30.
Wipro Stock Up 2.6 %
Shares of WIT opened at $5.03 on Thursday. Wipro Limited has a 52 week low of $4.32 and a 52 week high of $5.31. The company has a quick ratio of 1.71, a current ratio of 1.72 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.07 and a beta of 0.80. The stock’s 50-day moving average price is $5.01 and its 200-day moving average price is $4.80.
Wipro (NYSE:WIT – Get Free Report) last issued its quarterly earnings results on Thursday, July 13th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Wipro had a return on equity of 15.94% and a net margin of 12.70%. On average, sell-side analysts predict that Wipro Limited will post 0.26 EPS for the current year.
Wipro Company 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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