Colony Group LLC grew its position in shares of Wipro Limited (NYSE:WIT) by 90.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,112 shares of the information technology services provider’s stock after buying an additional 14,765 shares during the quarter. Colony Group LLC’s holdings in Wipro were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE lifted its position in shares of Wipro by 111.0% during the 1st quarter. US Bancorp DE now owns 331,961 shares of the information technology services provider’s stock worth $2,105,000 after buying an additional 174,639 shares in the last quarter. Paloma Partners Management Co lifted its position in shares of Wipro by 18.6% during the 4th quarter. Paloma Partners Management Co now owns 24,323 shares of the information technology services provider’s stock worth $137,000 after buying an additional 3,821 shares in the last quarter. Amundi Asset Management US Inc. raised its holdings in shares of Wipro by 38.9% in the 1st quarter. Amundi Asset Management US Inc. now owns 805,499 shares of the information technology services provider’s stock worth $5,107,000 after purchasing an additional 225,500 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Wipro by 40.7% in the 1st quarter. Penserra Capital Management LLC now owns 199,809 shares of the information technology services provider’s stock worth $1,266,000 after purchasing an additional 57,838 shares during the period. Finally, Lester Murray Antman dba SimplyRich raised its holdings in shares of Wipro by 35.9% in the 1st quarter. Lester Murray Antman dba SimplyRich now owns 55,993 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 14,796 shares during the period. 2.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on WIT. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a report on Wednesday, July 21st. Citigroup raised shares of Wipro from a “neutral” rating to a “buy” rating in a report on Friday, April 16th. Nomura raised shares of Wipro from a “reduce” rating to a “neutral” rating in a report on Friday, April 16th. upgraded shares of Wipro from a “neutral” rating to a “buy” rating in a research note on Friday, April 16th. Finally, Sanford C. Bernstein upgraded shares of Wipro from an “underperform” rating to a “market perform” rating and set a $6.23 price objective for the company in a research note on Wednesday, May 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.12.
Wipro stock opened at $8.33 on Monday. Wipro Limited has a 1-year low of $4.17 and a 1-year high of $8.60. The stock has a market cap of $47.42 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a 50 day simple moving average of $8.00.
Wipro (NYSE:WIT) last released its quarterly earnings results on Wednesday, July 14th. The information technology services provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Wipro had a net margin of 17.83% and a return on equity of 20.35%. Equities research analysts anticipate that Wipro Limited will post 0.29 earnings per share for the current fiscal year.
Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure, analytics, business process, research and development, and hardware and software design services to enterprises.
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