Segall Bryant & Hamill LLC Purchases Shares of 94,100 Wipro Limited (NYSE:WIT)

Segall Bryant & Hamill LLC purchased a new stake in Wipro Limited (NYSE:WIT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 94,100 shares of the information technology services provider’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 2,426 shares during the period. Mayflower Financial Advisors LLC bought a new position in shares of Wipro in the 2nd quarter valued at about $64,000. Abacus Wealth Partners LLC bought a new position in shares of Wipro in the 3rd quarter valued at about $71,000. Werba Rubin Papier Wealth Management bought a new position in shares of Wipro in the 3rd quarter valued at about $71,000. Finally, Catalytic Wealth RIA LLC bought a new position in shares of Wipro in the 3rd quarter valued at about $81,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WIT shares. StockNews.com downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Three research 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.com, the stock presently has an average rating of “Hold” and an average target price of $5.60.

Wipro Stock Performance

Shares of WIT stock opened at $6.98 on Monday. The company has a market capitalization of $36.47 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.72 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 company has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $6.17. Wipro Limited has a 52 week low of $4.67 and a 52 week high of $7.04.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. On average, sell-side analysts predict that Wipro Limited will post 0.27 earnings per share for the current year.

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.