14,338 Shares in Wipro Limited (NYSE:WIT) Purchased by Principal Street Partners LLC

Principal Street Partners LLC bought a new position in shares of Wipro Limited (NYSE:WIT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,338 shares of the information technology services provider’s stock, valued at approximately $51,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Wipro by 92.0% in the 4th quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock worth $82,692,000 after purchasing an additional 11,196,013 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Wipro by 36.4% in the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider’s stock worth $55,925,000 after purchasing an additional 4,215,981 shares during the period. Schroder Investment Management Group raised its holdings in shares of Wipro by 177.6% in the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock worth $34,280,000 after purchasing an additional 6,195,561 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Wipro by 41.5% in the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock worth $30,956,000 after purchasing an additional 2,566,388 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Wipro by 97.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider’s stock worth $26,636,000 after purchasing an additional 3,722,115 shares during the period. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Price Performance

WIT stock opened at $2.91 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a market cap of $30.44 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The stock has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $3.95.

Wipro (NYSE:WIT) last posted its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. On average, equities analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WIT shares. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday, April 8th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Two 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 stock. Based on data from MarketBeat.com, Wipro presently has a consensus rating of “Hold”.

About Wipro

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.