Wipro Limited (NYSE:WIT) Stake Raised by BSW Wealth Partners

BSW Wealth Partners increased its holdings in Wipro Limited (NYSE:WIT) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,446 shares of the information technology services provider’s stock after acquiring an additional 2,418 shares during the period. BSW Wealth Partners’ holdings in Wipro were worth $573,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Wipro by 37.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after purchasing an additional 2,426 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new stake in shares of Wipro during the 2nd quarter worth about $64,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Wipro during the 1st quarter worth about $60,000. Abacus Wealth Partners LLC purchased a new stake in shares of Wipro during the 3rd quarter worth about $71,000. Finally, Werba Rubin Papier Wealth Management purchased a new stake in shares of Wipro during the 3rd quarter worth about $71,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Price Performance

NYSE:WIT traded up $0.02 during trading hours on Friday, reaching $6.50. The company had a trading volume of 1,651,007 shares, compared to its average volume of 2,238,713. The stock has a 50-day moving average of $6.45 and a two-hundred day moving average of $6.02. Wipro Limited has a one year low of $4.49 and a one year high of $7.01. The firm has a market capitalization of $33.96 billion, a PE ratio of 24.07, a PEG ratio of 4.38 and a beta of 0.89. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.60.

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.