12,517 Shares in Wipro Limited (NYSE:WIT) Bought by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC bought a new position in Wipro Limited (NYSE:WIT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,517 shares of the information technology services provider’s stock, valued at approximately $81,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in Wipro by 292.0% in the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after acquiring an additional 1,001,644 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Wipro by 165.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 277,964 shares of the information technology services provider’s stock valued at $1,598,000 after buying an additional 173,072 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Wipro during the 2nd quarter valued at about $531,000. CWM LLC raised its stake in shares of Wipro by 11.8% during the 2nd quarter. CWM LLC now owns 20,621 shares of the information technology services provider’s stock valued at $126,000 after buying an additional 2,178 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Wipro during the 3rd quarter valued at about $860,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

NYSE:WIT opened at $6.93 on Wednesday. Wipro Limited has a 52 week low of $4.50 and a 52 week high of $7.04. 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 stock has a market capitalization of $36.20 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 4.63 and a beta of 0.89. The stock’s 50-day moving average price is $6.50 and its 200-day moving average price is $6.08.

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, hitting the consensus estimate of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.66 billion. As a group, equities analysts expect that Wipro Limited will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WIT shares. Investec lowered 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 report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.