PDS Planning Inc Boosts Stock Position in Wipro Limited (NYSE:WIT)

PDS Planning Inc lifted its position in shares of Wipro Limited (NYSE:WIT) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 92,352 shares of the information technology services provider’s stock after buying an additional 3,302 shares during the period. PDS Planning Inc’s holdings in Wipro were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIT. Millennium Management LLC grew its holdings in Wipro by 67.6% in the second quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock valued at $34,298,000 after purchasing an additional 2,267,995 shares during the period. Russell Investments Group Ltd. grew its position in shares of Wipro by 6,295.2% during the first quarter. Russell Investments Group Ltd. now owns 1,800,000 shares of the information technology services provider’s stock worth $10,260,000 after buying an additional 1,771,854 shares in the last quarter. Marshall Wace LLP bought a new stake in Wipro in the second quarter valued at about $7,994,000. Jane Street Group LLC raised its holdings in shares of Wipro by 292.0% during the first quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after purchasing an additional 1,001,644 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Wipro by 154.1% during the 1st quarter. Lazard Asset Management LLC now owns 855,496 shares of the information technology services provider’s stock valued at $4,919,000 after purchasing an additional 518,866 shares during the period. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Wipro Trading Down 1.1 %

Shares of WIT stock opened at $6.43 on Tuesday. The company has a market capitalization of $33.59 billion, a P/E ratio of 23.81, a P/E/G ratio of 4.39 and a beta of 0.89. Wipro Limited has a 12-month low of $4.49 and a 12-month high of $7.01. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $6.45 and a 200 day moving average price of $6.03.

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.