Graham Capital Management L.P. Takes $1.12 Million Position in Wipro Limited (NYSE:WIT)

Graham Capital Management L.P. acquired a new stake in Wipro Limited (NYSE:WIT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 315,034 shares of the information technology services provider’s stock, valued at approximately $1,115,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WIT. Aprio Wealth Management LLC boosted its stake in shares of Wipro by 246.9% in the 4th quarter. Aprio Wealth Management LLC now owns 52,339 shares of the information technology services provider’s stock valued at $185,000 after buying an additional 37,251 shares during the period. Fragasso Financial Advisors Inc purchased a new stake in Wipro during the fourth quarter worth approximately $47,000. Sivia Capital Partners LLC lifted its stake in Wipro by 96.0% during the fourth quarter. Sivia Capital Partners LLC now owns 150,114 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 73,535 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in Wipro during the fourth quarter worth approximately $69,000. Finally, Essex Savings Bank lifted its stake in Wipro by 100.0% during the fourth quarter. Essex Savings Bank now owns 27,310 shares of the information technology services provider’s stock worth $96,000 after purchasing an additional 13,655 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WIT shares. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Wipro Trading Up 5.9%

WIT opened at $2.99 on Tuesday. The firm has a market cap of $31.22 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The business’s 50 day moving average is $2.94 and its two-hundred day moving average is $4.09. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT) last released its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, research analysts predict that Wipro Limited will post 0.14 EPS for the current year.

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.