Caprock Group LLC Acquires 9,741 Shares of Wipro Limited (NYSE:WIT)

Caprock Group LLC lifted its holdings in Wipro Limited (NYSE:WIT) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 160,470 shares of the information technology services provider’s stock after purchasing an additional 9,741 shares during the quarter. Caprock Group LLC’s holdings in Wipro were worth $1,040,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of WIT. GAMMA Investing LLC raised its position in Wipro by 37.8% in the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after buying an additional 2,426 shares during the last quarter. Mayflower Financial Advisors LLC bought a new position in Wipro during the second quarter worth about $64,000. Abacus Wealth Partners LLC acquired a new position in shares of Wipro during the 3rd quarter worth approximately $71,000. Werba Rubin Papier Wealth Management acquired a new position in shares of Wipro in the third quarter valued at $71,000. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Wipro during the third quarter worth approximately $81,000. 2.36% of the stock is owned by institutional investors.

Wipro Stock Performance

NYSE WIT opened at $6.79 on Friday. Wipro Limited has a fifty-two week low of $4.67 and a fifty-two week high of $7.04. The stock has a market cap of $35.48 billion, a PE ratio of 25.15, a PEG ratio of 4.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The firm’s fifty day moving average price is $6.58 and its two-hundred day moving average price is $6.15.

Wipro (NYSE:WIT) last issued its earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.66 billion. On average, equities analysts expect that Wipro Limited will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on WIT. StockNews.com downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research note on Monday. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average 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.