Vise Technologies Inc. Invests $83,000 in Wipro Limited $WIT

Vise Technologies Inc. acquired a new stake in Wipro Limited (NYSE:WIT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,547 shares of the information technology services provider’s stock, valued at approximately $83,000.

Several other large investors have also recently added to or reduced their stakes in WIT. Vest Financial LLC acquired a new stake in Wipro during the 2nd quarter worth approximately $31,000. Hamilton Capital LLC acquired a new stake in shares of Wipro in the first quarter valued at $32,000. Haven Private LLC acquired a new stake in shares of Wipro in the second quarter valued at $39,000. Rehmann Capital Advisory Group purchased a new position in Wipro in the second quarter valued at $40,000. Finally, Hoxton Planning & Management LLC acquired a new position in Wipro during the 1st quarter worth $48,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Down 0.2%

WIT stock opened at $2.63 on Wednesday. The business has a 50 day moving average price of $2.69 and a 200 day moving average price of $2.81. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 16.16 and a beta of 1.02. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT) last released its quarterly earnings data on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 15.80% and a net margin of 15.06%. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on WIT. CLSA lowered Wipro from an “outperform” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wipro in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Wipro presently has a consensus rating of “Reduce”.

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.