Vise Technologies Inc. Makes New $83,000 Investment in Wipro Limited $WIT

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

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

Wipro Stock Down 0.2%

Shares of NYSE:WIT opened at $2.63 on Wednesday. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a 50-day moving average price of $2.69 and a 200 day moving average price of $2.81. The company has a market cap of $27.49 billion, a P/E ratio of 17.50, a PEG ratio of 16.16 and a beta of 1.02.

Wipro (NYSE:WIT) last released its earnings results 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 business 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%. Analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

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

Wipro Company 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.