Freestone Capital Holdings LLC Acquires 86,840 Shares of Wipro Limited (WIT)

Freestone Capital Holdings LLC raised its holdings in Wipro Limited (NYSE:WIT) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 959,975 shares of the information technology services provider’s stock after purchasing an additional 86,840 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Wipro were worth $4,953,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WIT. Jane Street Group LLC acquired a new position in Wipro in the first quarter valued at $129,000. Quantbot Technologies LP acquired a new position in Wipro in the first quarter valued at $150,000. We Are One Seven LLC acquired a new position in Wipro in the fourth quarter valued at $162,000. Two Sigma Securities LLC purchased a new stake in shares of Wipro in the fourth quarter valued at about $167,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Wipro in the first quarter valued at about $224,000. Institutional investors own 2.40% of the company’s stock.

WIT has been the topic of several analyst reports. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a report on Saturday, March 24th. TheStreet downgraded shares of Wipro from a “b-” rating to a “c+” rating in a report on Friday, May 11th. ValuEngine raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, BNP Paribas raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, April 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $141.50.

WIT stock opened at $4.89 on Thursday. The stock has a market cap of $21.55 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.14 and a beta of 0.71. Wipro Limited has a 52 week low of $4.50 and a 52 week high of $6.40. The company has a current ratio of 2.37, a quick ratio of 2.35 and a debt-to-equity ratio of 0.09.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, April 25th. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Wipro had a return on equity of 15.49% and a net margin of 14.68%. equities analysts predict that Wipro Limited will post 0.28 earnings per share for the current year.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. The company's IT Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, business process services, research and development, and hardware and software design services to enterprises.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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