Janney Montgomery Scott LLC Buys 48,616 Shares of Wipro Limited (NYSE:WIT)

Janney Montgomery Scott LLC lifted its stake in shares of Wipro Limited (NYSE:WITGet Rating) by 5.2% in the first quarter, HoldingsChannel reports. The fund owned 992,449 shares of the information technology services provider’s stock after acquiring an additional 48,616 shares during the period. Janney Montgomery Scott LLC’s holdings in Wipro were worth $7,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. JJJ Advisors Inc. lifted its holdings in Wipro by 5.2% in the 4th quarter. JJJ Advisors Inc. now owns 28,146 shares of the information technology services provider’s stock worth $275,000 after purchasing an additional 1,381 shares in the last quarter. Glassman Wealth Services lifted its holdings in Wipro by 66.9% in the 4th quarter. Glassman Wealth Services now owns 3,585 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 1,437 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Wipro by 31.0% in the 1st quarter. Lindbrook Capital LLC now owns 8,000 shares of the information technology services provider’s stock worth $62,000 after purchasing an additional 1,895 shares in the last quarter. Gitterman Wealth Management LLC lifted its holdings in Wipro by 6.7% in the 4th quarter. Gitterman Wealth Management LLC now owns 30,515 shares of the information technology services provider’s stock worth $298,000 after purchasing an additional 1,908 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in Wipro by 5.4% in the 4th quarter. Alps Advisors Inc. now owns 58,566 shares of the information technology services provider’s stock worth $572,000 after purchasing an additional 3,010 shares in the last quarter. 2.30% of the stock is currently owned by institutional investors.

Wipro Stock Performance

Shares of Wipro stock opened at $5.16 on Thursday. The stock’s fifty day moving average is $5.52 and its two-hundred day moving average is $6.74. The company has a market capitalization of $28.20 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88. The company has a quick ratio of 2.01, a current ratio of 1.95 and a debt-to-equity ratio of 0.09. Wipro Limited has a 52 week low of $4.94 and a 52 week high of $9.96.

Wipro (NYSE:WITGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Wipro had a return on equity of 17.66% and a net margin of 14.06%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.75 billion. As a group, analysts expect that Wipro Limited will post 0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WIT shares. Macquarie raised Wipro from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 1st. Nomura cut Wipro from a “buy” rating to a “neutral” rating in a report on Wednesday, May 25th. TheStreet cut Wipro from a “b-” rating to a “c+” rating in a report on Friday, July 8th. Wedbush reissued an “underperform” rating on shares of Wipro in a research report on Wednesday, July 20th. Finally, Morgan Stanley downgraded Wipro from an “overweight” rating to an “underweight” rating in a research report on Thursday, July 14th. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.70.

Wipro Company Profile

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Wipro Limited operates as 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.

See Also

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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