Creative Planning Boosts Stock Position in Wipro Limited $WIT

Creative Planning lifted its position in Wipro Limited (NYSE:WIT) by 21.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,730,772 shares of the information technology services provider’s stock after purchasing an additional 652,079 shares during the quarter. Creative Planning’s holdings in Wipro were worth $11,267,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wipro Stock Performance

WIT stock opened at $2.63 on Wednesday. The firm has a market cap of $27.49 billion, a PE ratio of 17.50, a P/E/G ratio of 16.16 and a beta of 1.02. The firm’s fifty day moving average is $2.69 and its 200 day moving average is $2.81. Wipro Limited has a one year low of $2.55 and a one year high of $3.79.

Wipro (NYSE:WIT) last issued 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). Wipro had a return on equity of 15.80% and a net margin of 15.06%.The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $224.40 billion. Research analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wipro in a research report on Thursday, October 30th. CLSA lowered Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Wipro currently 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.