PDS Planning Inc Buys 88,744 Shares of Wipro Limited (NYSE:WIT)

PDS Planning Inc raised its stake in Wipro Limited (NYSE:WIT) by 96.1% during the 4th quarter, Holdings Channel reports. The fund owned 181,096 shares of the information technology services provider’s stock after acquiring an additional 88,744 shares during the period. PDS Planning Inc’s holdings in Wipro were worth $641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Glenmede Trust Co. NA increased its holdings in shares of Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after purchasing an additional 1,746 shares during the period. Franklin Resources Inc. boosted its position in shares of Wipro by 9.1% during the 3rd quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock worth $233,000 after acquiring an additional 2,951 shares in the last quarter. Ridgewood Investments LLC boosted its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 3,631 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 4,851 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Wipro Price Performance

Shares of NYSE:WIT opened at $3.01 on Wednesday. The firm has a market cap of $31.42 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The firm’s fifty day moving average is $3.47 and its 200-day moving average is $5.09. 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 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Sell-side analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

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.