Augustine Asset Management Inc. Boosts Stock Holdings in Wipro Limited (NYSE:WIT)

Augustine Asset Management Inc. raised its position in shares of Wipro Limited (NYSE:WIT) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,006 shares of the information technology services provider’s stock after acquiring an additional 33,003 shares during the quarter. Augustine Asset Management Inc.’s holdings in Wipro were worth $234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC raised its stake in Wipro by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. Leo Wealth LLC purchased a new stake in shares of Wipro during the fourth quarter worth $40,000. BOCHK Asset Management Ltd acquired a new stake in shares of Wipro in the fourth quarter valued at about $42,000. PFG Investments LLC purchased a new position in shares of Wipro in the fourth quarter worth about $43,000. Finally, Fulton Bank N.A. acquired a new position in Wipro during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Shares of WIT stock opened at $3.68 on Wednesday. The firm’s 50-day moving average is $4.02 and its two-hundred day moving average is $5.59. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market capitalization of $38.43 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91.

Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

WIT has been the topic of a number of research reports. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Finally, UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wipro currently has a consensus rating of “Moderate Buy”.

Wipro Company Profile

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.