Creative Planning Increases Stock Position in Wipro Limited $WIT

Creative Planning increased its holdings in shares of Wipro Limited (NYSE:WIT) by 21.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,730,772 shares of the information technology services provider’s stock after purchasing an additional 652,079 shares during the period. Creative Planning’s holdings in Wipro were worth $11,267,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vest Financial LLC bought a new stake in Wipro during the 2nd quarter valued at $31,000. Hamilton Capital LLC purchased a new stake in shares of Wipro during the 1st quarter worth $32,000. Haven Private LLC bought a new stake in Wipro during the second quarter valued at about $39,000. Rehmann Capital Advisory Group purchased a new position in Wipro in the second quarter valued at about $40,000. Finally, Hoxton Planning & Management LLC purchased a new position in Wipro in the first quarter valued at about $48,000. Institutional investors own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WIT. Weiss Ratings restated a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. CLSA cut shares of Wipro from an “outperform” rating to a “hold” rating in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Wipro has an average rating of “Reduce”.

Wipro Stock Performance

Wipro stock opened at $2.63 on Wednesday. Wipro Limited has a one year low of $2.55 and a one year high of $3.79. The stock has a market cap of $27.49 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 16.16 and a beta of 1.02. The stock has a 50-day moving average of $2.69 and a two-hundred day moving average of $2.81.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $224.40 billion. Wipro had a net margin of 15.06% and a return on equity of 15.80%. As a group, sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro 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.