Lindbrook Capital LLC Has $260,000 Stock Holdings in Wipro Limited (NYSE:WIT)

Lindbrook Capital LLC lifted its stake in Wipro Limited (NYSE:WIT) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,734 shares of the information technology services provider’s stock after acquiring an additional 7,539 shares during the period. Lindbrook Capital LLC’s holdings in Wipro were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WIT. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Wipro by 83.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 211,876 shares of the information technology services provider’s stock worth $1,180,000 after buying an additional 96,260 shares in the last quarter. DGS Capital Management LLC increased its position in Wipro by 14.8% in the fourth quarter. DGS Capital Management LLC now owns 140,491 shares of the information technology services provider’s stock worth $783,000 after purchasing an additional 18,160 shares during the period. Waldron Private Wealth LLC grew its position in shares of Wipro by 27.7% during the 4th quarter. Waldron Private Wealth LLC now owns 37,825 shares of the information technology services provider’s stock worth $210,000 after buying an additional 8,215 shares during the period. Cerity Partners LLC grew its position in shares of Wipro by 18.9% during the 4th quarter. Cerity Partners LLC now owns 196,639 shares of the information technology services provider’s stock worth $1,095,000 after buying an additional 31,242 shares during the period. Finally, Lester Murray Antman dba SimplyRich grew its position in shares of Wipro by 3.3% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 156,679 shares of the information technology services provider’s stock worth $873,000 after buying an additional 4,992 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 5.2 %

WIT opened at $5.53 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $5.90 and its 200 day simple moving average is $5.41. Wipro Limited has a 1-year low of $4.47 and a 1-year high of $6.45. The stock has a market cap of $28.83 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WIT shares. BNP Paribas started coverage on Wipro in a research report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective for the company. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Wedbush boosted their target price on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research note on Tuesday, January 16th. Finally, TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Four analysts have rated the stock with a sell rating and one has given a buy rating to the stock. Based on data from MarketBeat, Wipro currently has an average rating of “Reduce” and a consensus price target of $5.05.

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.